Clearing executive Ray Kahn leaves Barclays

Ray Kahn, who held many of the senior roles in banking giant Barclays PLC (ADR) (NYSE:BCS)’s clearing business over the past 8 years, is no longer with the bank.

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.

Kahn joined Barclays in 2008 from Lehman Brothers, where he was a managing director.

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