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Tuesday, May 12, 2015

Ex-Barclays Asia executives to launch new investment bank -sources, (NYSE: BCS)

Four top former Asia-based Barclays Plc investment bankers, who left last year in the British bank's global cull, are setting up a new cross-border advisory firm, people with knowledge of the matter told Reuters. The four - Ed King, Johan Leven, Helge Weiner-Trapness and Peter Ding - are well known in Asia and have previously worked together in other Wall Street banks. The founders of the new firm, who declined to comment, each have about 25 years of experience in investment banking.The people with knowledge of the matter declined to be identified because the details were not yet public.The new bank will focus on advising companies on cross-border deals and is the first high-profile launch of a boutique advisory firm in Asia in a long time. It comes as independent firms are beginning to make an impact in the region, climbing financial advisory league tables as big global firms scale back their investment banking footprint to cut down on costs.

Barclays PLC is global financial services provider. Shares of BCS traded higher by 1.37% or $0.22/share to $16.28. In the past year, the shares have traded as low as $13.27 and as high as $17.23. On average, 2714250 shares of BCS exchange hands on a given day and today's volume is recorded at 3611660.