Bloomberg News

Barclays’s Walker, Zhou, Han Said to Leave Bank Amid Staff Cuts

January 27, 2013

Jeff Walker, Asia-Pacific head of insurance at Barclays Plc (BARC)’s investment banking unit, has left as Britain’s second-largest bank started cutting jobs last week, two people with knowledge of the matter said.

Walker, who joined the financial institutions group in 2011 from Daiwa Capital Markets Hong Kong, was previously chief executive officer at Prudential Assurance Co. in Hong Kong. Nina Zhou, a managing director in the same group, and David Han, co- head of Korea investment banking, also left, the people said, asking not to be identified because the matter is private.

Angie Tang, a Hong Kong-based spokeswoman for Barclays, declined to comment on the departures. Walker, Zhou and Han didn’t return calls made to their office or mobile phones.

Barclays plans to eliminate at least 15 percent of its investment banking positions in Asia, involving about 70 jobs, people with knowledge of the matter said last week. Barclays doesn’t plan to exit any markets or product areas in the region, one of the people said.

Jiho Kim, who was co-head of Korea investment banking with Han, will be the sole head, one of the people said. The bank last week denied a Korea Economic Daily report that it was planning to shutter investment banking operations in South Korea. The office there remains “open and fully operational,” Barclays said in an e-mailed statement.

To contact the reporter on this story: Cathy Chan in Hong Kong at kchan14@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net


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