Philippe El-Asmar, chief of financier solutions at Barclays Plc, will shift to HK to guide the bank’s sales work in the area, according to an individual proverbial with the subject. He will begin his new work in Jan., said an individual, who refused to be recognized because of organization policy. Kevin Burke, Barclays’s existing chief of Asia-Pacific sales in Singapore, is shifting to London to presume El-Asmar’s existing role, an individual said.Burke didn’t reply an e-mail looking for remark following business hours. The personnel modifications were formerly registered by Structured Products, a magazine.
El-Asmar was the London-based bank’s 1st United States employee in the structured-note unit, known at Barclays as investor solutions, when he was recruited in the year 2004, he said in a July interview. This year, Barclays offered $5.74 billion of structured notes in the United States, according to data assembled by Bloomberg. Structured notes are securities formed by banks, which wrap up debt with derivatives to provide modified bets to investors whilst earning fees and increasing money. Derivatives are agreements whose value depends on the appearance of bonds, currencies, stocks or commodities.