As its many other companies we have encountered so far, Indian culture has played a large role in deciding how thecompany is run. The culture at Barclays is a mixture of the local Indian culture alongwith the corporate culture in UK. In the beginning one of the main challenges Barclays faced was establishing itself in the Indian market.
Barclays handled the trust issue by tackling difficult problems posed by potential customers. As ithelped customers with their needs, word of mouth spread and Barclays gained trust along with additional customers.
Despite rough economic times and depressed markets across the globe, Barclays wealth sought business in India. Its strategy was to get the right people on board in order to become more competitive once markets improved.
Barclays focuses on corporate banking, investment banking, and wealthmanagement. Barclays makes decisions in these areas based on what’s happening globally while considering Indian market trends. As opposed to other competitive banks, Barclays is focused on solutions not products.
They offer investment banking at an individual level because they saw a market opportunity there. Barclays breaks investment banking into three pillars. The first is the investment pillar which focuses on asset allocation. The second is the lending pillar which is based on financial collateral like equity and debt as opposed to a balance sheet. The third is the advisory pillar which helps entrepreneurs and family businesses manage their wealth and pass it along succeeding generations.
We left Barclays with a better understanding of banking. More importantly however, we got yet another perspective from a foreign company learning how to modify its business to best suit operations in India.”