The British banking giant's wealth chief has become CEO of wealth, entrepreneurs and business banking.

Akshaya Bhargava, Barclays' chief executive for wealth and investment management, has expanded his role to include offshore clients and small businesses with a turnover of under £6.5 million ($9.2 million), the bank confirmed.

Bhargava will remain at the helm of wealth management businesses forming parts of Barclays' two new core divisions, Barclays UK and Barclays Corporate and International. He will report to Ashok Vaswani, who was previously CEO for personal and corporate banking and now leads Barclays UK. 

As announced in the bank's recent results statement, CEO Jes Staley has taken charge of Barclays Corporate and International until a permanent appointment is made.

Under the new structure, reporting into Bhargava will be:

- Wealth UK – led by Dena Brumpton

- Wealth international – consisting of:

• Wealth, Europe, the Middle East and Africa – led by Francesco Grosoli
• Wealth India – led by Satya Bansal
• Wealth Hong Kong – led by Vivian Chan Lo
• Wealth Singapore – led by Andrew Tailby-Faulkes
• Offshore islands – led by Shaun Phillips

- Global investments and solutions – led by Solomon Soquar

- Business banking – led by Ian Rand.

Barclays last week announced a sell-down of its stake in an African business and a dividend cut. It also reported adjusted profit attributable to shareholders of £2.696 billion ($3.77 billion) in 2015, 3 per cent down from 2014.