Barclays' Director quits to join JP Morgan
Bhavin Shukla, Director at Barclays India’s investment banking, has resigned to join the competitor JP Morgan’s investment banking unit. This move marks yet another senior management exit at Barclays’s Indian investment banking unit. Last year, the bank’s Managing Director and Head of structured finance Anuj Kapoor quit joining UBS as the head of its investment banking unit. Hardik Dalal, a director at Barclays, had left last year to join Japanese bank Mitsubishi UFJ.
According to media reports, Bhavin has resigned from Barclays India and is moving to JPMorgan’s i-banking unit. He will be looking after coverage of infrastructure clients at JPMorgan. Prior to JPMorgan, Bhavin spent over eight years in Barclays. He comes with an experience of over eight years and has worked with organizations like Citi and Lehman Brothers
Earlier charges were brought against Barclays bank for the emergency fundraising of over a three billion USD loan made to Qatari investors. The court has dismissed those charges against Barclays, but the charges dismissed by the court only involve Barclays as a corporate entity.
The charges made by the SFO against the individuals, the former Chief Executive John Varley and other executives Roger Jenkins, Thomas Kalaris and Richard Boath still stand and proceedings remain to live in their cases.
In a recent development, according to a media report, Barclays has been exploring a potential merger with rival banks, including Standard Chartered.