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Ex-Barclays bankers now making it big at Bank of Singapore

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Just over four months ago more than 60 Barclays relationship managers became employees of another firm: Bank of Singapore. BoS had bought Barclays’ Asian wealth unit in a deal worth $227.5m.

While some Barclays RMs chose to join Standard Chartered even before the takeover took place and while a few – most notably market head Andrew Sum – have since left, most did make the move.

Some senior ex-Barclays employees, both RMs and other staff, have started to update their online public profiles, showing us what they’re now doing at Bank of Singapore. Here’s a selection.

Vikram Malhotra, global market head, South and Southeast Asia at BoS

Malhotra, who now sits on the BoS management committee, joined Barclays in February 2010 as head of South Asia for its wealth and investment management division. In 2013, he became global head of ‘South Asia community’ private banking and three years later took on the additional responsibility of head of sales for Singapore.

Sonjoy Phukan, managing director, global chief operating officer

Between June 2009 and March 2012 Phukan was chief of staff for Barclays’ International Private Bank and EMEA market head for offshore African, Indian and Pakistani clients. He then took an 11-month break from Barclays and joined London boutique Signia Wealth as an MD, according to his public profile. Phukan returned to the British bank and moved to Singapore to spend just under four years as deputy CEO and chief operating officer for Asia.

Nakul Beri, executive director and team head

Beri joined BoS after more than seven years at Barclays. As a private banker at the UK firm in Singapore, Beri worked towards “fusing wealth management and investment banking for UHNW families”, according to his profile. He was promoted to director in 2011 and to a Barclays team head in March 2016, shortly before the BoS buy-out. Beri has a background in Indian banking and was regional head for South India at YES Bank from 2005 to 2009. He is currently “involved in equities, alternate investments, wealth and investment advisory for private clients”.

Andrew Yew, director, fixed income specialist

Yew boasts 15 years of fixed-income experience, most of it within wealth management. After a stint in asset management, he moved to a fixed income advisory and execution job at Merrill Lynch in Singapore in 2006. He then joined UBS’ private bank in September 2009, but by November that year he shifted again – this time to Barclays, where he worked for almost seven years a fixed-income dealer.

Sajal Arora, director

Arora is among the few finance professionals who’ve successfully made the switch from corporate banking to private banking. From 2001 to 2007 he was a corporate banker at Citi in New Delhi, focused on small and medium-sized companies. Arora then worked at HSBC for three years, where he became head of corporate banking for Northern India. In 2010, he moved to Singapore, joined Barclays and became a private banker “managing and developing UHNW and HNW clients”, according to his profile.

Lynn Michelle Tan-Lee, director, change management 

Tan-Lee is a rare commodity: she has vast experience in change management and much of it is specifically in Asian private banking. With BoS currently integrating Barclays’ Asian operations, it’s little wonder that she was kept on by the Singaporean firm and given a promotion. At Barclays Tan-Lee was a VP in ‘wealth change’ for three years. Before that she spent six years in change management at Deutsche Bank in Singapore and the Philippines.

Yee Teng Ng, executive director, head of business process and control

With governance roles taking centre stage in Asian wealth management, Ng has an influential role to play at BoS. At Barclays’ wealth unit – where she worked for just over nine years – Ng held a similarly senior middle-office position: director and head of business control and governance for Asia, the Middle East and Africa. Ng came to banking after a six-year stint at PwC’s financial services industry practice, according to her online profile.


Image credit: catalin_grigoriu, Getty

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