Ray Kahn, who held a variety of senior roles in Barclays PLC‘s clearing business over the past eight years, is no longer with the bank, according to a person with knowledge of the situation.
A spokesman for Barclays declined to comment on Kahn’s departure, but said the bank is still committed to its swaps clearing business.
Clearing, which involves a third party stepping in between a buyer and a seller to reduce the risk of a transaction defaulting, has been a major focus of regulators since the 2007-09 credit meltdown.