New | Barclays names new Hong Kong chief as sector woes deepen

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Appointment of Anthony Davies comes after the bank announced massive job losses in Asia-Pacific early this year

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Barclays said early this year that it would remove 1,200 jobs worldwide and close its investment banking operations in seven countries in Asia-Pacific. Photo: Reuters

Alun John

Published: 10:54pm, 15 Jun 2016Updated: 10:59pm, 15 Jun 2016

Anthony Davies has been appointed chief executive of Barclays Bank’s Hong Kong branch, according to an internal company statement seen by the South China Morning Post.

The move, which comes at a challenging time for banks in Hong Kong, is Barclays’ first high-level appointment in Asia-Pacific after the firm announced significant job losses in the region at the start of this year.

Anthony Davies will assume his new role as chief executive of Barclays’ Hong Kong branch alongside his existing responsibilities as Hong Kong country manager and co-head of senior relationship management for Asia ex-Japan. Photo: SCMP Pictures

According to the internal memorandum, which was sent by Asia-Pacific chief executive Andrew Jones, Davies will assume his new role alongside his existing responsibilities as Hong Kong country manager and co-head of senior relationship management for Asia ex-Japan.

In January, Barclays announced that it would remove 1,200 jobs worldwide and close its investment banking operations in seven countries in Asia-Pacific. These included Australia, South Korea and Taiwan, which the bank said would be covered from other locations.

“Hong Kong is a key location in Asia for Barclays alongside Tokyo, Singapore and India,” the internal note said, adding that Barclays Hong Kong was critical to its global business.