NEWS & ADVICE : SAVINGS ACCOUNTS
Barclays to increase manpower by 15% in India
By Neelima Shankar
Nov 28, 2012
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British Bank, Barclays will be soon adding up tp 15 per cent more employees at the wealth management division by the end of this financial year, even in the difficult economic condition.

Mr. Satya Narayan Bansal, Chief Executive of Barclays wealth and investment management said, "We will add 12-15 per cent (four-six people) to our client facing staff this financial year".

British lender, Barclays currently employs 120 people in its wealth management business in India.

A majority of the new hires would come from the corporate and investment banking, said Mr. Bansal. He even mentioned that one-fourth of its current employees were from corporate banking background.

Even in the stressed and gloomy economic condition, Barclays wasn't affected much. Many of the private banks were in a phase of consolidation as their business is getting thinner due to the economic slowdown.

Mr. Bansal said, "Our growth journey has been good since starting business in November 2008. We are growing by 30-35 per cent on assets under management and revenues, twice the industry average, and the business is in line with expectations."


 


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