May 8, 2018 / 1:25 AM / a year ago

MOVES-Barclays hires Credit Suisse banker as Asia Pacific equities head

HONG KONG, May 8 (Reuters) - Barclays Plc said on Tuesday it has hired senior Credit Suisse Group AG banker Matt Pecot to head its equities business in Asia Pacific, part of efforts to boost its offerings to global clients.

The British lender’s equities business in Asia is mainly focused on equity financing offerings after it closed its regional cash equities business in 2016.

“We remain focused on areas that are aligned with our existing strategy and in businesses where there are clear, competitive advantages,” Stephen Dainton, Barclays global head of equities, said in a statement.

At Credit Suisse, Pecot was head of prime service and equities distribution in Asia Pacific. Before Credit Suisse, he worked at UBS as head of prime services and prime brokerage services in the region.

Barclays also recently announced it was re-opening in Australia just over two years since the UK-based bank surprised staff there by closing its operations as part of a region-wide retrenchment. (Reporting by Sumeet Chatterjee; Editing by Edwina Gibbs)

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