(Corrects to change 'co-CEOs' to 'co-heads' in headline andtext)
By Julie Zhu
HONG KONG, Jan 26 (Reuters) - Barclays hasappointed Jaideep Khanna and Reid Marsh as co-heads for AsiaPacific, replacing Andy Jones who will return to Britain,according to an internal memo seen by Reuters on Thursday.
Khanna will continue to oversee Barclays' business in India,while Marsh will continue to lead its banking operations in theregion. Their appointments are pending regulatory approval, theBritish bank stated in the memo.
Jones, who joined the London-based bank in 2000 and becameits co-CEO for the region in May 2014, will take a temporaryrole as vice-chairman throughout the transition. The memo citedpersonal reasons for his decision.
The British bank has scaled back across Asia in a bid toslash costs and improve profitability since early last year. InJanuary 2016, it said it would close its cash equities businessin the region and cut about 1,000 jobs in the investment bankingsector worldwide, including many Asian countries.
Singaporean lender Oversea-Chinese Banking Corp (OCBC) in April snapped up Barclay's Asia wealth business for$320 million. (Reporting by Julie Zhu; Editing by Sherry Jacob-Phillips)