UPDATE: Barclays Taps UBS Bankers For South Asia Private Banking Team

SINGAPORE (Dow Jones)--Barclays Wealth, the wealth management division of Barclays PLC (BARC.LN), said Monday it has appointed three new bankers from UBS AG (UBS) in senior positions, to strengthen its private banking team for South Asians.

Vikram Malhotra, who joins Barclays Wealth as managing director and head of South Asia operations, will manage a team of Hong Kong and Singapore-based bankers who will provide wealth management and advisory solutions to South Asians in Asia Pacific, Barclays said in a statement.

Prior to joining Barclays Wealth, Malhotra was the managing director and country team head for India International Asia at UBS.

Also joining Barclays Wealth from UBS are Jagdish Kale and Rohit Nanani. Both will taking on the positions of directors at Barclays Wealth and will be based in Singapore, the statement said.

'As we continue to build our presence in Asia Pacific, adding high-calibre senior bankers is crucial to meeting the complex needs of our sophisticated private banking clients,' Didier Von Daeniken, chief executive of Barclays Wealth Asia Pacific, said in the statement.