Barclays appoints new Managing Director in Seychelles

IN a press communiqué dated 9 April 2008, Barclays, a major global financial services provider, announced the appointment of Loganaden Sidambaram as the new Managing Director taking effect end of April, for its Global Retail and Commercial Banking (GRCB) operations in Seychelles.  Mr. Sidambaram will be responsible for the bank's expansion in the region in retail and commercial banking, cards, and advisory services.  The appointment follows the decision by the former MD, Mr. Frank Hoareau, to pursue other opportunities.

Mr. Sidambaram has over 25 years of banking experience and is currently associated with Barclays as the Regional Treasurer in Botswana.  He is a senior banker with experience in treasury, financial, analysis, organisational restructuring and process improvement.  With his strong background and leadership capability and having handled several senior roles within Barclays Emerging Markets, Mr. Sidambaram is well positioned to lead the Seychelles operations.

Mr. Samir Bhatia, Managing Director  India and Indian Ocean, said at a gathering to introduce the new MD, “We are delighted to appoint Loganaden to the role of MD for Seychelles.  As Regional Treasurer in Barclays Botswana, he has made significant contributions, and we wish him continued success in his new role.  We would also like to thank Frank for the positive contribution he made to the Seychelles business during his tenure.  We wish him all the very best for his future endeavours.”

Mr. Sidambaram said, “It is a great honour to be given responsibility to lead the organisation in this region.  I will do my best towards strengthening the business further and guiding the teams in providing an even better service to our customers.”

Mr. Frank Hoareau said, “It has been a privilege to lead this organisation.  The time has come now for me to explore other challenges in life.  I would like to thank the staff and customers for their support over the years.”

More About Barclays

Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services, with an extensive international presence in Europe, the USA, Africa and Asia.

With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs 135,000 people.

Barclays moves, lends, invests and protects money for over 30 million customers and clients worldwide.

For further information about Barclays, please visit website http://www.barclays.com.