Barclays Promotes Vikram Malhotra to Global Head of South Asia Community

20 Feb 2013 08:00 GMT

Barclays today announced that it had promoted Vikram Malhotra to Global Head of its Global South Asia Community (GSAC) business. In his expanded role, Malhotra will have overall responsibility for the GSAC teams in Dubai, London and Singapore.

Barclays today announced that it had promoted Vikram Malhotra to Global Head of its Global South Asia Community (GSAC) business. In his expanded role, Malhotra will have overall responsibility for the GSAC teams in Dubai, London and Singapore.He will continue to report in to Srinivas Siripurapu, who is Head of offshore Africa, South and Southeast Asia.

Malhotra joined Barclays in February 2010, as Head of South Asia for the wealth and investment management division of Barclays. Under his leadership, Barclays has seen the size of its South Asian team in Asia triple, and assets under management double yearly since 2010.

“Vikram has been instrumental in building up the South Asian business. We continue to see strong growth momentum, and expect assets under management to grow north of 40 percent annually over the next two years. We already have the largest team of bankers serving this community, and will continue to build up our teams globally to meet the needs of our sophisticated client segment,” said Srinivas Siripurapu, Head of offshore Africa, South and Southeast Asia, Barclays.

The Global South Asian Community is an important segment. There is a 25 million-strong Indian diaspora, with Datamonitor estimating the net worth of this segment at US$1 trillion. Potential total wealth of the Global South Asia community is estimated at US$500 billion.

“Clients in the South Asian community are typically financially savvy investors. While they invest globally across all asset classes, they have a bias towards their home country given their understanding of the local market and connection to their roots. They also tend to be more open to tactical opportunities in areas they are familiar with, such as currency options. As a unified global team, we look forward to leveraging the immense synergies across the various centres and bringing to clients compelling investment ideas and opportunities,” said Vikram Malhotra, Global Business Head of GSAC, Barclays.

Barclays has seen significant interest from the Global South Asia Community in the FX, vanilla swaps and structured swaps space. Its enhanced margining/netting system and straight through processing has been a draw for many clients, alongside its industry leading FX advisory team and open architecture platform which provides clients with the most competitive FX pricing. Barclays is also one of the few private banks to offer swaption trading capability. It can do almost any non funded trade for a client under the umbrella of a structured swap. This allows sophisticated investors to book a number of exotic payoffs, such as Interest Rate Range Accruals in swap format, Equity Linked structures in swap format, commodity swaps and options.

Notes to Editors:

Barclays moves, lends, invests and protects money for customers and clients worldwide. With over 300 years of history and expertise in banking, we operate in over 50 countries and employ over 140,000 people.

We provide large corporate, government and institutional clients with a full spectrum of solutions to their strategic advisory, financing and risk management needs. Our clients also benefit from access to the breadth of expertise across Barclays. We’re one of the largest financial services providers in the world, and are also engaged in retail banking, credit cards, corporate banking, and wealth and investment management. Barclays offers premier investment banking products and services to its clients through Barclays Bank PLC.


About Barclays

 

Barclays moves, lends and invests money for customers and clients worldwide.  With over 300 years of history and expertise in banking, we operate in over 50 countries and employ over 140,000 people.



Our customers and clients benefit from access to the breadth of expertise across Barclays.  We are one of the largest financial services providers in the world, engaged in retail banking, credit cards, corporate and investment banking, and wealth and investment management.

 

We are a leading global wealth and investment manager providing international and private banking, wealth planning, trust and fiduciary services, investment management, brokerage services and research to private and intermediary clients around the world.

 

“Barclays” refers to any company in the Barclays PLC group of companies.

 

Barclays offers wealth management products and services to its clients through Barclays Bank PLC ("BBPLC"), functioning in the United States through Barclays Capital Inc. ("BCI"), an affiliate of BBPLC.  BCI is a registered broker dealer and investment adviser, regulated by the U.S. Securities and Exchange Commission, with offices at 200 Park Avenue, New York, New York 10166.  Member FINRA and SIPC. Barclays Bank PLC, registered in England and Wales (no. 1026167), has a registered office at 1 Churchill Place, London, E14 5HP, United Kingdom, and is regulated by the Financial Services Authority.

 

Mortgage products and services in the U.S are offered by Barclays Bank Delaware (“BBD”), member FDIC.  Custom lending is offered via BBPLC, New York Branch.  Securities investing and brokerage products and services are offered exclusively through BCI.  A relationship with the Barclays Wealth and Investment Management unit need not be established or maintained to obtain BBD or BBPLC, New York Branch products or pricing.  Bank regulations require that the loan review and approval proves to be independent of, and cannot be impacted by, brokerage/investment-related matters or other business dealings.

 

Trust and fiduciary services are offered through Barclays Wealth Trustees (U.S.), N.A. (“BWT”) a limited purpose national bank. BWT is subject to regulation and examination by the Office of the Comptroller of the Currency. BWT is an indirect, wholly-owned subsidiary of BBPLC and an affiliate of BCI and various other subsidiaries of, and entities affiliated with, BBPLC.

 

This is not a solicitation of any products or services.