When Barclays Capital announced the appointment of Bhuvnesh Singh and Neel Shahani as part of the institutional desk, the business strategy of the London-headquartered entity was clearly evident. The institutional desk of Barclays Bank Plc, which has been a late-starter in India, was looking at people who could bring ready business and big-ticket clientele along with them.
Singh, who heads the equity research team in India, is known for his analytical capabilities. He has been ranked highly for his research in various sectors, including telecom, technology and industrials. Singh will be responsible for developing Barclays Capital’s Indian equity research business and will report to Stephen O’Sullivan, head of Asia Ex-Japan equity research. Interestingly, the appointment comes close on the heels of Bhavtosh Vajpayee who joined as managing director and head of equities of the India unit.
Shahani, on the other hand, brings to the table nearly two decades of experience in sales and trading. Prior to joining Barclays, Shahani was managing the sales trading team tracking global markets at India Infoline. Shahani has handled large funds during his earlier stints with CLSA, HSBC, JM Financial.
Shahani may well be a part of an industry that is looked upon as a symbol of capitalism, but there is also a social side to him. He is a part of the board of trustees of Akanksha, a non-profit organisation involved in education of less privileged children from Mumbai's slum areas. The Lancaster-based Franklin and Marshall College alumnus is also on the board of GiveIndia, which is a donation platform for around 200 NGOs.
The new-look team - which is not yet fully staffed has its goals clearly laid out. Barclays Capital is known for its non-equity capabilities (bond, primary debt offerings and fixed income research) and is aggressively eyeing a slice in the equity segment that is currently in the doldrums.
The hirings also come at a time when many of the global majors are increasing their strength in India. So, it does not come as a surprise that the British major is vying for people that already share a good rapport and relation with some of the biggest and most influential clients looking at India.
