It’s been a year of upheaval, to say the least, for Barclays in Singapore and Hong Kong.
The bank has cut jobs from the front office to the back as it refocuses on serving the UK and US markets. It’s closed its Asian equities business and moved scores of technology jobs from Singapore to India.
Where have the ex-Barclays’ employees gone?
Because Barclays started cutting 2016 Asian jobs before most other banks – Goldman Sachs has only just begun – some of its former staff in Singapore and Hong Kong have already found new jobs and have updated their online public profiles.
Here’s a selection of mid and senior-ranking people who’ve recently left Barclays in Asia (not necessarily because they were laid off) and secured good jobs at other global banks.
Mavis Morton
Morton had a successful 10-year FIG career at Barclays. She was a director and head of insurance for ex-Japan APAC – covering both M&A and capital markets – when she left the firm this April. Credit Suisse has now snapped her up as its new Hong Kong-based head of Asia insurance within its FIG group, according to her online profile.
Justin Raoul Moffitt
Moffitt was a Barclays veteran, having joined the bank in 1997 in London as a team leader for convertible bonds technology. By 2016 he’d risen up the ranks to become Asia Pacific CIO for Barclays’ investment bank, “responsible for all technology teams, from infrastructure to trading for the investment bank”. Earlier this year Moffitt moved from Singapore to Sydney and became CIO for Macquarie Group.
Bhumit Shah
Like Morton, Shah left Barclays in April. He was head of APAC business management for compliance at the British bank, in charge of headcount, finance, business continuity, talent, and real estate strategies. Shah was able to take his expertise to Standard Chartered in Singapore, where he’s now head of strategy and business management in trade finance and cash management.
Cyrus Ng
Ng was an equity derivatives exotics trading assistant at Barclays, but he left the bank for Citi just before its cull of Asia equities jobs. This appears to have been a shrewd move – Citi has been among the Western banks least inclined to shed Asian jobs this year, and Ng has ditched his assistant tag at his new firm to become an equity delta one trader.
Paresh Mahajan
Mahajan is another example of talent flow between Barclays and Stan Chart, which continues to hire in Singapore – its largest office globally – despite cut-backs to its management ranks. He was working in distressed credit and credit flow at Barclays until he joined Stan Chart earlier this year in asset liability management.
Kristopher Żaczek
Żaczek moved from Poland to Singapore in 2015 with Barclays as a financial product controller and business analyst – but he stayed in the role for less than a year, according to his profile. In 2016 he’s been working for Credit Suisse’s investment bank in Singapore as a senior business analyst, ensuring “execution of strategic designs and change implementation to processes”.
Sagar Pratap Singh
Techie Singh joined Barclays as an intern back in 2008 and then worked as a developer in both fixed income and equities during his early full-time career there. When he left the bank this year he was an AVP in risk and analytics development. He’s now putting his equities skills to use as an AVP in “public equities technology” at Singapore sovereign wealth fund GIC, according to his public profile.
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