Barclays Hires Weiner-Trapness to Head Financials
Barclays Hires Weiner-Trapness to Head Financials
Chris Ratcliffe/Bloomberg
Barclays Capital employs about 25,500 people globally and generated two-thirds of Barclays’ first-half pretax profit.
Barclays Capital employs about 25,500 people globally and generated two-thirds of Barclays’ first-half pretax profit. Photographer: Chris Ratcliffe/Bloomberg
Barclays Plc, Britain’s second- biggest bank by assets, said it hired former JPMorgan Chase & Co. banker Helge Weiner-Trapness as head of its financial institutions group for Asia-Pacific.
Weiner-Trapness, 46, who left JPMorgan in 2008 after more than six years, started working at Barclays three weeks ago, according to two people with knowledge of the situation. Steven Sun, who joined Barclays last year from UBS AG, was appointed Asia-Pacific chairman of the group, the London-based firm said in a statement today.
Investment-banking arm Barclays Capital has hired at least eight managing directors in Hong Kong since March from rivals including Goldman Sachs Group Inc. and Morgan Stanley, seeking to bolster its advisory, wealth management, research and loans businesses in the region. The firm said in August it plans to boost employees as much as 10 percent in the full year.
Barclays has been expanding its securities unit since the 2008 purchase of Lehman Brothers Holdings Inc.’s North American division. Costs at the unit, led by Robert Diamond, rose by a third after the bank added 1,100 employees in 2010. Revenue at Barclays Capital fell 32 percent in the first half as income from rates and commodities operations dwindled.
Barclays Capital employs about 25,500 people globally and generated two-thirds of Barclays’ first-half pretax profit.
The bank also said today it hired Randy Gelber from Bank of America Corp.’s Merrill Lynch & Co. unit as head of technology investment banking in the region.
Munoz, Schwartz
Jorge Munoz, previously with Deutsche Bank AG, and Marco Schwartz, who transferred from Barclays Capital in London, were named as co-heads of equity capital markets for Asia-Pacific, the statement said.
In six months the unit has hired Johan Leven, the former Goldman Sachs Asia co-head of mergers and acquisitions, and Vanessa Koo, a China-focused mergers banker at the New York- based firm. Other senior hires include Edward King, Peter Ding and Gary Kuo from Morgan Stanley and Wu Sheng from Citigroup Inc.
Weiner-Trapness had worked for Goldman Sachs since 1987 before joining JPMorgan in 2002 as co-head of general industries in Asia-Pacific. He also held different positions including head of the financial institutions group for Asia and was tasked with overseeing technology, media and telecommunications as well as general industries. He left two years ago to join Asia Pacific Land Ltd., a real-estate investment and asset management company, as partner and chief operating officer.
To contact the reporter on this story: Cathy Chan in Hong Kong at kchan14@bloomberg.net
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