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Barclays W&IM CEO to step down

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Barclays W&IM CEO to step down

Barclays Wealth and Investment Management CEO Akshaya Bhargava is stepping down. 

He will leave the business in mid-2017 and will be replaced by Dena Brumpton, who is currenly CEO of wealth management UK. 

Bhargave replaced Peter Horrell as CEO back in 2014. 

He joined the bank from InfraHedge, the company he founded in 2010, which was acquired by State Street Corporation at the end of 2013. He spent most of his career at Citibank where he was for 22 years. 

He also had spells as CEO of Butterfield Fulcrum Group and founding CEO of Infosys BPO.

Brumpton joined Barclays in 2015. She previously worked for Citibank for 30 years, initially joining the bank's asset management division in 1985 to develop its Islamic finance proposition. 

A spokesperson for Barclays said: 'Akshaya Bhargava, CEO of Barclays’ Wealth & Investments UK business, has decided to step down from his role. Barclays has requested and he has agreed to remain with the bank until the middle of 2017 to progress a number of innovation projects.  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.

'Already an established leader in the business, Dena Brumpton, currently CEO of Wealth Management UK, will replace Akshaya from January.'

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