Barclays loses head of Asia-Pacific business

Harriet Green
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Barclays has said Robert Morrice, its Asian Pacific chairman and chief executive (CEO), is retiring after 17 years in the role.

Andrew Jones and Eiji Nakai will step into the breach as co-CEOs, the bank said today.

Jones is currently chief operating officer for Asia Pacific, while Nakai is chief executive of Barclays Japan business.

Morrice, who has led the bank's Asian operation for 12 years, departs closely behind Skip McGee, head of the bank's US business. McGee's leaving, announced a few days ago, reportedly came amid internal disagreement.

According to sources cited by Bloomberg, eight managing directors began an exit from the bank's markets unit earlier in the year, after trading income fell dramatically.