Barclays to increase workforce by 10% in Asia

Barclays to increase workforce by 10% in Asia

New Delhi: UK-based Barclays on Monday said that it would increase its workforce in merchant banking segment across Asia by 10% during 2010.

“We’ve seen very strong performance across Asia for all our business classes. We would expect our workforce to increase across Asia by 10%," Barclays chairman and chief executive officer Asia Pacific Robert A. Morrice said on the sidelines of the India Economic Summit.

On India strategy, Barclay said that it would continue to grow the business in the same way as it has been growing in the last 5 years.

Meanwhile, Bank of America Merrill Lynch county head (India) Kevan V. Watts said that India is a structural story and it makes sense to invest money in the equity market.

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“Sectors that look attractive include infrastructure and stock, which have good exposure to rural markets," he said.

However, dollar is expected to remain week in the coming months.