Barclays Plc made a series of key leadership changes at its investment banking division in the Asia-Pacific region following the appointment of Avinash Thakur as head of the business in May.
Richard Satchwell, who currently leads the bank’s operations in Australia, will become head of capital markets financing for the broader region, according to a statement. Satchwell, who was also overseeing the firm’s investment banking business in Australia, will relocate to Singapore for his new role and lead debt and equity financing transactions across the Asia Pacific.
Ee-Ching Tay, head of investment banking in southeast Asia, will also take on the additional role of head of mergers and acquisitions for the broader region.
“Asia Pacific is crucial to our global growth plan,” Thakur said in the statement. “This team will drive the next phase of our ambition.”
Barclays has been revamping its investment banking offerings in recent months as part of a broader push to boost returns at the bank. The firm, long known as a powerhouse in debt capital markets, has sought to deepen its footprint in equity financings and advisory.
Thakur replaced Vanessa Koo, who is retiring from the lender. A 14-year Barclays veteran, Thakur is based in Hong Kong and joined the executive forum for the region, Bloomberg News previously reported.
As part of the latest raft of changes, Duncan Connellan will replace Satchwell as head of investment banking in Australia, while David Henderson will become the CEO of the bank in the country.
Barclays also named Arun Saigal as head of investment banking in India, though he’ll also keep his role as head of financing and M&A in the country. Barclays said he’ll be tasked with boosting the bank’s presence in a “key growth market.”
Pramod Kumar will continue as the CEO of Barclays in India, but will assume the additional role of vice chairman for investment banking in the broader Asia-Pacific region.
Yuzo Otsuka, who leads investment banking in Japan, and Raymond Yu, who oversees that business in greater China, will continue in their roles on the leadership team along with Sushir Lohia, who leads the risk solutions group for the region.
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