Barclays’ APAC chief stepping down
(23 January 2016 – Asia) Reports indicate Barclays Asia Pacific chief executive Andy Jones will step down.
In a company memo it was said that the UK bank’s current head of banking for the region, Reid Marsh, and India chief executive Jaideep Khanna have been appointed co-heads for Asia Pacific. The CEO position for Asia will remain unfilled.
Jones, who has been with the bank since 2000, will take an interim role as vice chairman during the transition.
Barclays has cut back its presence in Asia over the past year. At the start of 2016 it said it would cut up to 1,200 jobs by closing many operations in Asia, Russia and Brazil as well as exiting precious metals trading.
It sold its Asia wealth division to Singaporean lender OCBC in April for around A$420 million.
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