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Barclays clearing executive Ray Kahn leaves bank, says source: Reuters

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.