Barclays is hiring two dealmakers in India while conducting a headcount reduction.
Sources said the bank is slashing around 300 employees globally.
The bank has poached Sameer Sood and Srikanth Chakka from Credit Suisse to strengthen the advisory business in India.
Sood will assume the role of managing director, while Chakka will lead the industrials segment within the investment banking division in Mumbai.
Both appointments are expected to take effect by December.
This move comes when Ashish Jhaveri, the former head of mergers and acquisitions for Barclays in India, departs for Jefferies Financial Group.
The bank’s strategic agenda includes further recruitment of investment bankers in India to reinforce its foothold.
Sameer Sood, worked with Credit Suisse since 2010, and Srikanth Chakka, joined the firm two years ago.
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Spokespersons for Barclays and Credit Suisse declined to comment.
Barclays has been actively involved in advisory roles for major transactions in India.
It includes billionaire Gautam Adani’s acquisition of Holcim Ltd.’s Indian operations and JSW Energy Ltd.’s acquisitions in the renewable energy sector over the past two years.