The investment banking division of Barclays Bank, Barclays Capital (BarCap) has announced Timothy Last will be its new managing director, head of equity derivatives flow sales, non-Japan Asia.

Last joins from Merrill Lynch in Hong Kong, where he was head of equity derivatives sales in Asia Pacific, prior to which he was with JP Morgan in Hong Kong and Macquarie Bank in Australia.

Hewill be responsible for growing the firm's equity derivatives business with clients in non-Japan Asia. He will be based in Hong Kong and will report to David Campbell, head of north Asia distribution and Nicholas Moreira, head of equities, Asia Pacific.

Campbell said the appointment was an integral part of the strategic build out of the firm's equity platform in Asia Pacific, which is one of BarCap's key priorities in the region this year.

BarCap hired 100 equities professionals in Japan in October last year, following the expansion of the firm's US equity business in September 2008.