UPDATE:Barclays Capital Bulks Up Asia-Pacific FX Team
July 28 2009 - 12:57AM
Dow Jones News
Barclays Capital, the investment banking arm of Barclays Bank
PLC (BARC.LN), Tuesday continued its moves to bulk up its foreign
exchange business in the region, with five newly created hires,
including a Singapore-based Asia-Pacific sales head and several
Japan appointments.
Barclays Capital said it is appointing Ivan Ferraroni, formerly
Royal Bank of Scotland's (RBS) Tokyo foreign exchange head of sales
and trading, as head of Asia Pacific foreign exchange bank
sales.
Ferraroni, who will be based in Barclays' regional hub of
Singapore, will be responsible for the "delivery of the full suite
of FX flow and derivative products to bank clients in the Asia
Pacific region," it said in a statement.
Barclays Capital is among the few investment banks regionally
that has been on a hiring spree at a time when investment banks are
struggling to retain talent amid onerous restrictions on pay and
risk-taking,
The investment bank, which acquired the U.S. business of the
bankrupt Lehman Brothers in 2008, hired around 100 Tokyo-based from
Lehman earlier in the year.
On Tuesday, Barclays Capital said three of the five newly
created foreign exchange hires it has made are in Japan.
Eric Schatz, formerly Barclays Capital's head of real money
foreign exchange sales for the Americas, has relocated from the
firm's New York office to Tokyo to be head of foreign exchange for
Japan.
Toshimasa Fujii has joined the firm in Tokyo as a director for
foreign exchange sales. Prior to the appointment, he was head of
foreign exchange trading firm Currenex's Japanese business,
Barclays said.
Naomi Koyama, director for Bank of America Merrill Lynch's
foreign exchange sales in Japan, will join Barclays Capital next
month.
Barclays Capital also said Tuesday that it has hired Gaurav
Tholia in Singapore as vice-president in charge of foreign exchange
derivatives sales to banks and private banks in Asia excluding
Japan. Before this, he was at JP Morgan Chase & Co. (JPM).
-By P.R. Venkat, Dow Jones Newswires; +65 64154 152;
venkat.pr@dowjones.com