State Street exec to head Barclays wealth division

Barclays has hired former Citigroup banker Akshaya Bhargava to head up its recently restructured wealth management business, following the exit of Peter Horrell in June.

Bhargava has been appointed as chief executive of wealth and investment management, and will join on 13 October 2014. His hire comes amid a major restructure of Barclays' wealth arm which preceded the exit of former wealth boss Horrell. Horrell resigned in the summer after the bank announced its private banking division would cease to exist as a standalone unit and be rolled into UK corporate and retail banking. His departure coincided with a number of other recent exits from the business, including Rory Tobin, global head of investments and solutions. Bhargava joins from InfraH...