May 2 (Reuters) - Barclays Plc's head of mergersand acquisitions is expected to quit, which would take to fourthe number of top executives the British bank has lost in theweek before it unveils a strategic revamp, the Financial Timesreported, citing people familiar with the bank.
Paul Parker, who was the M&A head at Lehman Brothers beforeits U.S. arm was bought by Barclays in 2008, was eased out aspart of management changes to be announced next week, thenewspaper reported. (http://r.reuters.com/cun98v)
Barclays will announce next week the creation of a bad bankportfolio of assets it deems non-core that it intends to sell orrun down as part of a streamlining of its investment bank,Reuters reported on Tuesday, citing a person familiar with thematter.
Parker, one of the world's most senior M&A bankers, isadvising Valeant Pharmaceuticals International Inc onits near $50 billion bid for Botox maker Allergan Inc and Comcast Corp's $42 billion takeover of rival cablegroup Time Warner Cable Inc, the Financial Times said.
A Barclays spokeswomen declined to comment.
Last week, Hugh 'Skip' McGee, one of Barclays' highestearners, quit as head of its Americas business. The bank hadsaid he did not want to oversee the task of establishing a newholding company required under tougher U.S. rules.
Barclays named Andrew Jones and Eiji Nakai on Friday asco-chief executives for Asia Pacific, replacing the retiringRobert Morrice, who oversaw the bank's expansion in the regionfollowing the 2008 financial crisis. (Reporting by Neha Dimri in Bangalore; Editing by Kirti Pandey)