The CEO of Barclays’ Wealth & Investments UK business, Akshaya Bhargava, is stepping down from his role. Dena Brumpton, currently CEO of Wealth Management UK, will replace Bhargava January 2017 onwards.
Bhargava, who joined Barclays W&IM in October 2014, is due to remain with the UK-headquartered bank until mid-2017 and work alongside Ashok Vaswani, CEO – Personal and Corporate Banking at Barclays group, to progress a number of innovation projects, according to a spokesperson from Barclays.
Bhargava joined Barclays W&IM from InfraHedge Ltd, which he founded in 2010 and was acquired by State Street Corporation at the end of 2013. Prior to this he was CEO of Butterfield Fulcrum Group Ltd and founding CEO of Infosys BPO. He also spent 22 years at Citibank, leading teams in London, India and the Czech Republic.
The Barclays spokesperson added: “Akshaya has successfully led the business through the implementation of Wealth’s strategy to create a simpler and more focused business. It has made great progress on its transformation journey and is well positioned for future growth.
Brumpton, who is due to take over, joined Barclays W&IM in September 2015 after spending over three decades at Citibank. At Barclays W&IM, she has already implemented a disciplined, three-dimensional segmentation framework and has a plan for the UK private bank to “get back to a fundamental growth strategy”.
In September 2016, she told PBI: “My interest is in turbo-charging the growth that’s inherent in our business. There is an opportunity for Barclays W&IM to capture more wallet share – we are well positioned and need to get out there and ask for the business. It’s time to be more visible.”