Change At The Top Of Barclays' Wealth, Investment Arm

Tom Burroughes

15 December 2016

The chief executive of Barclays’ wealth and investments UK business, Akshaya Bhargava, has decided to step down from the role, this publication can report.

Bhargava has, at the request of the UK lender, agreed to remain with the bank until the middle of next year to progress on a number of innovation projects, the bank said in a statement today. The bank said he 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”.

Dena Brumpton, who is CEO of wealth management UK, takes over Bhargava’s role from January next year, said in a statement.

Bhargava was appointed as CEO for W&IM in September 2014, joining in October of that year and bringing 35 years’ experience to the job. He previously worked at InfraHedge, which he founded in 2010 and was acquired by State Street at the end of 2013. Prior to this, he was CEO of Butterfield Fulcrum Group Ltd and founding CEO of Infosys BPO. He spent 22 years at Citibank, leading teams in London, India and the Czech Republic.