Barclays loses top dealmaker in Asia amid bank staff overhaul

Michael Bow
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BARCLAYS’ most senior dealmaker in Asia has quit the British-based business, delivering another blow to the company’s investment bank.

Jason Rynbeck, who joined Barclays in 2008, resigned from the business last Thursday, according to a filing with regulators in Hong Kong.

He was vice-chairman of mergers and acquisitions in the Asia-Pacific region and joined Barclays after heading up Asian M&A at RBS.

Rynbeck’s departure comes hot on the heels of the exit by US dealmaker and boss of Barclays America Skip McGee last month.

The loss comes as Barclays chief Antony Jenkins prepares to scale back the company’s investment bank with the loss of 7,000 jobs a the division over the next two years. The cuts form part of a wider reduction in staff, which will lead to about 19,000 being slashed across the business.

Barclays achieved global prominence as a bulge bracket investment bank under the leadership of ex-boss Bob Diamond, but Jenkins has sought to move the bank on to a retail footing.