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Barclays clearing executive Ray Kahn leaves bank -source

Reuters - UK Focus

NEW YORK, Aug 4 (Reuters) - Ray Kahn, who held a variety of senior roles in Barclays PLC (LSE: BARC.L - news) '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.

Kahn joined Barclays in 2008 from Lehman Brothers, where he was a managing director. (Reporting by John McCrank; Editing by David Gregorio)