Barclays has strengthened its DCM operations in Asia with the appointment of Richard Grainger. Although he has only been in Hong Kong for five days, Grainger is already well versed in Asian FIG having worked on the pioneering $200 million hybrid tier 1 issue for Hana Bank in December with JPMorgan.
Grainger has been at Barclays for six years based in London and for three years before that was with Credit Suisse First Boston in London and New York.
In the UK, he was responsible for UK and Canadian banks covering senior and subordinated debt across tier 3, 2 and 1 capital issues. Highlights of his time included the development of tier 1 securities in Europe, notably the development of non-hybrid core tier 1 securities (directly issued TONS) and hybrid tier 1 securities (the directly issued RCI structure).
He will now report to Darcy Lai, Barclay's head of Asian investment banking. A director in the FIG group headed by George Koo, Grainger will focus on subordinated debt and regulatory capital products for financial institutions in the region.