Barclays Wealth, the wealth management division of Barclays, has appointed Partha Roychoudhury as head of active advisors for North Asia, effective yesterday, in a move the bank says demonstrates its commitment to further strengthening its client servicing and advisory capabilities.
Roychoudhury is reporting to Des Byrne, head of capital markets and stockbrokers at Barclays Wealth, and he now oversees the team of active advisors in Hong Kong. The team's core responsibilities are to provide investment-themed advisory solutions as well as short-term, tactical trade ideas across various asset classes to the firm's Hong Kong-based bankers and their clients.
Roychoudhury replaced Steve Wong who has taken up a senior active advisor role within the North Asia active advisory team, according to a Barclays Wealth spokesperson. Wong reports to Roychoudhury.
Prior to joining UK-based Barclays Wealth, Roychoudhury was head of active advisory services for North Asia at RBS Coutts in Hong Kong, where he played an instrumental role in designing and implementing the active advisory investment proposition for Asian high-net-worth clients. For the past 20 years, Roychoudhury has held senior positions in various financial institutions across Hong Kong, India and Singapore, including Dresdner Kleinwort, Peregrine Securities and Citibank.
"We are delighted to welcome Partha to our team," said Byrne. "With his extensive experience in investment advisory services, I am confident that Partha will lead the further development of our advisory capabilities in Asia, and accelerate the significant progress we have made in this area, in order to better serve the needs of our ultra-high and high-net-worth clients."
Didier von Daeniken, chief executive at Barclays Wealth Asia-Pacific, added: "Partha's appointment validates our ambitions of becoming a top five global player in wealth management, and adds further depth of experience to our active advisory capabilities in Asia. Once again, this is a clear signal of the firm's ability to attract proven talent and underlines our commitment to strengthen our capabilities and value proposition as a leading wealth manager and advisor."
In August, Barclays Wealth hired Srinivas (Srini) Siripurapu from UBS to head Southeast Asia and South Asia. Earlier this year, in January, the firm appointed Joanna Chu as managing director and co-head of North Asia for its private banking business.