Last year saw an exodus of employees from Barclays Asian operations. The bank cut jobs as it refocused on serving the UK and US markets, while some staff sought more stable employers and left of their own accord.
Where have the ex-Barclays’ people gone? Here’s a selection of mid and senior-ranking staff who departed from Barclays in Asia (not necessarily because they were laid off) and secured good jobs at other global banks.
Vikesh Kotecha, to UBS
Kotecha was the former head of Barclays’ Asia equity business. He had been in charge of the team, which was largely shuttered last year, since 2010. Kotecha moved to UBS in Hong Kong early this year to run its equity derivatives unit.
Mavis Morton, to Credit Suisse
Morton had a 10-year FIG career at Barclays. She was a director and head of insurance for ex-Japan APAC – covering both M&A and capital markets – when she left the firm last April. Credit Suisse now snapped her up in June 2016 as its Hong Kong-based head of Asia insurance within its FIG group, according to her online profile.
Bhumit Shah, to Standard Chartered
Shah left Barclays in April last year. He was head of APAC business management for compliance at the British bank, in charge of headcount, finance, business continuity, talent, and real estate strategies. Shah was able to take his expertise to Standard Chartered in Singapore, where he’s now global head of strategy and business management in transaction banking technology and operations.
Cyrus Ng, to Citi
Ng was an equity derivatives exotics trading assistant at Barclays, but he left the bank for Citi just before its cull of Asia equities jobs. This appears to have been a shrewd move – Citi has been among the Western banks least inclined to shed Asian jobs over the past two years, and Ng has ditched his assistant tag at his new firm to become an equity delta one trader.
Paresh Mahajan, to Standard Chartered
Mahajan is another example of talent flow between Barclays and Stan Chart, which continues to hire in Singapore – its largest office globally – despite cut-backs to its management ranks. He was working in distressed credit and credit flow at Barclays until he joined Stan Chart earlier this year in asset liability management.
Kristopher Żaczek, to Societe Generale
Żaczek moved from Poland to Singapore in 2015 with Barclays as a financial product controller and business analyst – but he stayed in the role for less than a year, according to his profile. He joined Credit Suisse’s investment bank in Singapore as a senior business analyst in 2016, but last month moved to Societe Generale in Hong Kong as an IT business analyst and project manager.
Sagar Pratap Singh, to GIC
Techie Singh joined Barclays as an intern back in 2008 and then worked as a developer in both fixed income and equities during his early full-time career there. When he left the bank this year he was an AVP in risk and analytics development. He’s now putting his equities skills to use as an AVP in “public equities technology” at Singapore sovereign wealth fund GIC, according to his public profile.
Image credit: Gang Zhou, Getty