Barclays has reportedly hired a senior Singapore-based Deutsche Bank financing executive as the British firm continues to develop its business in the Asia Pacific region.

According to an internal memo reported by Bloomberg, Abhay Kumar Sinha departed the bank last week where he served as managing director and head of special Situations – Asia, and head of corporate financing – India at Deutsche Bank. At Deutsche Bank, Sinha played a pivotal role in the development of the Structured Finance business, particularly in South and Southeast Asia.

Barclays, the report notes, is looking to bolster its APAC business, with the goal of sourcing, underwriting and managing risk locally – a job which had previously been managed outside of the region. The bank has hired around a dozen staff for its special situations structured credit and private lending businesses in Asia.

Barclays chief exec C.S. Venkatakrishnan last week doubled down on the bank’s commitment to the Asian market, saying that it is focused on wholesale and selective private banking in the region.

Bloomberg separately reported that Barclays is working with a search firm to hire additional staff for financing roles in the region.

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