Barclays Asia-Pacific Managing Director Leven Said to LeaveCathy Chan
Johan Leven, Barclays Plc’s Asia-Pacific head of corporate finance, is leaving the U.K. firm after his former manager stepped down from his role earlier this month, three people with knowledge of the matter said.
Leven resigned after Barclays said on May 15 that Matthew Ginsburg left his post as the region’s head of investment banking, the people said, asking not to be named as the matter is private. Angie Tang, a Hong Kong-based spokeswoman, declined to comment.
Leven is the latest managing director from Asia to leave amid a global retreat by the London-based bank. Chief Executive Officer Antony Jenkins revealed plans on May 8 to cut 7,000 investment-banking jobs worldwide as revenue from trading fixed income, currencies and commodities shrinks.
Other senior departures in recent weeks include Robert Morrice, Asia-Pacific chairman and CEO, Jason Rynbeck, vice-chairman of mergers and acquisitions for the region, and Marc Benton, Asia-Pacific head of oil and gas investment banking. Hugh “Skip” McGee, Ginsburg’s former boss, stepped down as CEO of the Americas division last month.
The Wall Street Journal reported Leven’s departure earlier today. Helge Weiner-Trapness, head of the Asia-Pacific financial institutions group, is also leaving, the newspaper reported, citing a person familiar with the matter.
Leven, a 20-year Goldman Sachs Group Inc. veteran, joined Barclays in March 2010 as one of eight senior bankers hired by Ginsburg within 12 months of joining the British bank.
Barclays hired Ginsburg in September 2009 from Morgan Stanley to expand investment-banking operations in the Asia-Pacific region. Ginsburg, a more than 13-year veteran at Morgan Stanley, subsequently hired former colleagues from the Wall Street firm including Ed King, who moved to California from Hong Kong to become Barclays’s executive chairman for global M&A earlier this year.
Barclays, the U.K.’s second-biggest bank by assets, plans to cut 19,000 jobs across the firm by 2016, including the 7,000 in investment banking and 12,000 the lender said in February it would eliminate this year.