Barclays Capital has poached Bhavtosh Vajpayee from CLSA as head of equities for India.
He joins at the level of managing director with the mandate to build up and lead the equity research, sales and trading business for Barclays Capital in India. He will be based in Mumbai and will report to Mike Di Iorio, head of equities for BarCap for Asia-Pacific.
This is a new role for Barclays Capital in India, a spokesman for the firm clarified. Vajpayee is expected to hire a number of key people during the remainder of this calendar year, the spokesman added, although he declined to share projected headcount numbers.
Vajpayee joins Barclays Capital from CLSA where he worked for the past 10 years, most recently as head of technology research. He has already served his gardening leave and started at BarCap on Monday. Before he joined CLSA, Vajpayee worked in corporate finance at JM Morgan Stanley.
“Providing our clients with somebody with Bhavtosh’s industry profile and experience was imperative and we expect to make further quality hires in the coming months as we look to build a robust, best-in-class, equities business in India,” said Di Iorio in a written statement. “By the end of 2011 we expect to have established fully operational equities sales, trading and research businesses in India, Taiwan and Korea, alongside our existing equities hubs in Hong Kong and Japan,” he added.