Barclays has promoted Neel Shahani to head the equities business of the company in India, as per a company statement. He takes over from Bhavtosh Vajpayee, who was the head of equities since July 2011 and moved last month to Hong Kong as managing director and head of equity research for Asia (excluding Japan).
In his new role, Shahani (based in Mumbai) will be responsible for leading Barclays equities sales and trading businesses.
In August 2011, the firm had roped in Shahani from IIFL to head equity sales trading, where he was the head of sales trading and managed a team of sales traders covering global markets.
The global bank has also appointed Myung Seop (M.S) Kho to head the equity business in Korea.
Both Shahani and Kho will report to John Chang, head of equities distribution – Asia Pacific and Vikesh Kotecha, head of equities trading – Asia Pacific.
Shahani, who has over two decades of experience in equities markets, has previously worked with CLSA, HSBC and JM Financial.
“We would like to congratulate Neel and M.S on their promotions. They are among the most experienced and well-regarded equities professionals in their markets and have deep relationships with our key clients and stakeholders; so we have confidence that they will continue the steady growth we have seen in our India and Korea equities businesses,” said John Chang.
“Since launching the cash equities businesses in Asia in 2010 we have been extremely pleased by the progress our Asia ex-Japan businesses have made in a short space of time. We continue to take market share by delivering market leading solutions for our clients globally and regionally," said Vikesh Kotecha.
Barclays caters to large corporate, government and institutional clients, with solutions ranging from strategic advisory to financing and risk management.
(Edited by Joby Puthuparampil Johnson)