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(Adds details on appointments, rankings)
By Steve Slater
LONDON, July 8 (Reuters) - British bank Barclays Plc has appointed Reid Marsh as co-head of investmentbanking in Asia-Pacific and promoted Gary Posternack to globalhead of mergers and acquisitions, a person familiar with thematter said on Tuesday.
Mark Warham, head of M&A in the Europe, Middle East andAfrica (EMEA) region, is leaving the bank, the source said.
Matthew Ponsonby will lead EMEA M&A coverage, in addition tohis role as co-chief operating officer of investment banking.
The moves follow the appointment of Tom King as head ofBarclays' investment bank in April and the departure of severalhigh-profile bankers in recent months.
Barclays is slimming down its investment bank and will cutabout 7,000 jobs in the business, or about a quarter of itsstaff, over the next three years in an effort to improveprofitability.
Many investment banks are rethinking their strategy astougher capital rules force them to hold more capital againsttheir trading operations, hurting the returns they can deliver.
Marsh takes the seat left by Matthew Ginsburg, Barclays'most senior investment banker in Asia, who quit in May. Marshjoined Barclays in 2010 from Citigroup and is currentlythe London-based vice chairman of investment banking andchairman of its industrials group. Marsh's co-head is expectedto be appointed from the Asia business, the source said.
Posternack will replace Paul Parker, who left in May, soonafter the departure of Skip McGee, the head of the bank'sAmericas unit, and other senior U.S. bankers.
Posternack, who will remain based in New York, joined LehmanBrothers in 1995 and Barclays when the British bank took overLehman's U.S. operations in 2008. Many of his past deals havebeen in the natural resources industry, including for Shell andChevron.
Barclays has grown its M&A advisory and equities businessessince the Lehman deal, and has said its cuts will be limited inthose areas.
Barclays ranked as sixth in estimated revenue from announcedM&A deals in the first six months of this year, up from 8th inthe first half of 2013, lifted mainly by a strong showing in itsU.S. business, according to Thomson Reuters data. The top fivefirms were all U.S. banks.
Most of Barclays' cuts are expected to be in fixed income,currencies and commodities, where revenues have slumped in thepast year as clients have cut activity. (Editing by Anjuli Davies/Ruth Pitchford)
