Barclays today announced that Akshaya Bhargava is the new chief executive of wealth and investment management, taking up the role on 13 October and filling a slot left by the departure of Peter Horrell.

Barclays today announced that Akshaya Bhargava is the new chief executive of wealth and investment management, taking up the role on 13 October and filling a slot left by the departure of Peter Horrell, as originally reported in June this year.

Bhargava previously worked at InfraHedge, which he founded in 2010 and was acquired by US-listed State Street at the end of 2013.  Prior to this he was chief executive of Butterfield Fulcrum Group and founding CEO of Infosys BPO.

He spent 22 years at Citibank, leading teams in London, India and the Czech Republic, Barclays said in a statement.

“Appointing Akshaya, with his breadth of global financial services knowledge and experience in creating bespoke investment platforms, is a significant coup for the business,” Ashok Vaswani, CEO of Barclays Personal and Corporate Banking, said in the statement.

The change will hopefully bring a period of stability for this part of the Barclays business. The wealth and investment arm is now part of Personal and Corporate Banking following a restructuring of the UK-listed bank’s divisions earlier this year. (The wealth and investment arm, as seen in the second quarter, no longer reports a specific set of financial results.) Horrell’s decision to step down was understood to be prompted by the changes; he had been at Barclays for more than 23 years. Horrell hadn’t been in the role all that long; he held the CEO role in a full-time capacity since last September, having been made interim chief executive of the unit last May. His own appointment came in the wake of the departure of Thomas Kalaris, who had been part of the management team since 1996.