Barclays Capital, the investment banking arm of Barclays PLC (BCS), said Tuesday it hired Jim Chapman to head its power and utilities investment banking operation for Asia ex-Japan, along with a five-member team, all from Bank of America Merrill Lynch.

The team is a new one for Barclays, and forms part of Barclays Capital's moves begun early last year to build up its investment banking division.

Chapman, who began at Barclays Tuesday, was head of power banking for the region at Bank of America Merrill Lynch. The other five bankers are on gardening leave, a person familiar with the situation said.

Chapman and the five other bankers joined Merrill Lynch nine months ago from Lehman Brothers, after that bank's collapse and the subsequent takeover of its Asian and European investment banking operations by Japan's Nomura Holdings Inc. (8604.TO).

Merrill Lynch became part of Bank of America Corp. (BAC) early this year.

At Barclays Capital, Chapman will be responsible for leading all investment banking transactions in the power and utility sectors in Asia excluding Japan, including mergers and acquisitions, debt and equity financing and risk solution transactions, the bank said.

-By Nisha Gopalan, Dow Jones Newswires; 852-2832-2343; nisha.gopalan@dowjones.com