CEO to Exit Barclays Japan

Andrew Jones now sole Chief Executive Officer Asia-Pacific

Andrew Jones now sole Chief Executive Officer Asia-Pacific

U.K. bank Barclays is set to lose the Chief Executive of its Japanese business. The banking veteran is also the firm’s Asia-Pacific co-CEO.

A report in the Financial Times (paywall) confirmed that Eiji Nakai will depart the bank by mid year. Nakai joined Barclays in 2004 to lead the London headquartered bank’s Japanese brokerage unit. Nakai previously worked for Goldman Sachs.

Current co-CEO Andrew Jones now becomes the bank’s sole Chief Executive for the region with immediate effect. In Japan Mark Dearlove, the Head of Markets in Asia Pacific, will now take on the role of country manager Japan.

At the beginning of the year the British lender closed its cash-equity operations in Japan to focus on derivatives, prime brokerage and electronic trading, which led to around eighty employees in Tokyo being sacked.

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