Barclays' cuts are bad news for Hong Kong ECM bankers

Posted by PSR_AXP 9 mths ago

If you're a Hong Kong equity capital markets banker, yesterday's revelation that Barclays is parting company with Kelvin Teo, its head of APAC equity capital markets, should be the cause of some trepidation.

Barclays isn't commenting on the reason for Teo's departure. It's entirely possible that he has left of his own accord for somewhere like Deutsche Bank, maybe, but sources suggest he was cut as part of Barclays' Asian layoffs, which have also been impacting financial institutions group (FIG) bankers in Singapore. Wei Lynn Chen, Barclays' APAC head of sustainability investing went as part of the same process.
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