Barclays India head to join Centrum Group as the head of its wealth management
Barclays, Sandeep Das, is tipped to join the Centrum Group as the head of its wealth management subsidiary Centrum Wealth, which is in midst of a top deck reshuffle. Das is likely to join the company mid-September, two people familiar with the matter said.
He will be filling in a leadership void that was created after the removal of two managing directors — Ganashyam S and Arpita Vinay — in January due to «loss of confidence». Das, a private banking veteran with over three decades of experience behind him, will be spearheading a new team to drive its future expansion.
Centrum Wealth had Rs 35,000 crore of assets under management at the end of March, growing at around 25% compounded annually over the past three years. Das could not be contacted immediately.
Centrum Capital, the holding company for the Jaspal Bindra-led group, did not comment on the matter. «With a largely optimistic market outlook, the growth prospects for the firm to capture a larger part of existing client wallet share and build market share within the overall Indian wealth industry look positive,' it said.
Das, an MBA from XLRI, had earlier worked with Standard Chartered Bank for over 28 years and moved up the ladder to become the MD of private banking, before joining Barclays in 2019. He has been in the leadership role for the last 13 years.
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