Barclays extracts Asian wealth team from rival UBS

FWR Staff

31 August 2009

Team leader Siripurapu to head WM ops in South and Southeast Asia. Barclays has lured Srinivas Siripurapu away from UBS to head its wealth-management operations in South and Southeast Asia, according to a report in AsiaFinance. He's set to join Barclays Wealth with nine of his former UBS colleagues in November 2009 as report to Didier von Daeniken, CEO of Barclays Wealth the Asian-Pacific region.

The appointment of Siripurapu and his teammates is "clear evidence of ability to attract proven talent and underline our commitment to further build up our private-banking business in Asia-Pacific," Von Daeniken says in a press release.

Two things

Siripurapu will be responsible for developing Barclays Wealth's business in South and Southeast Asia and for managing private-banking teams in these areas.

In a separate role as market manager for the South Asian community, Siripurapu will manage the private-banking teams in Dubai, Geneva, Hong Kong, London, and Singapore that cover South Asians living abroad. In this position, he reports to Von Daeniken and to Emmanuel Fievet, head of Barclay's international private-banking business Europe, the Middle East and Africa.

In the Middle East, Barclays has appointed former Bahrain-based Investcorp Bank principal Fawaz Baba as general manager of its Dubai wealth-management office. He reports to Soha Nashaat head of Barclays Wealth for the Middle East and North Africa.

London-based Barclays Wealth had total client assets of $218 billion at the end of June 2009. It has offices in 25 countries, including Hong Kong and Singapore. -FWR

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