Barclays CEO receives honorary doctorate

ONE of the UK’s leading bankers – who also founded a charity aimed at improving education in rural areas of his native India – has received an award from the University of Huddersfield.

As Chief Executive Officer, of Barclays UK, Ashok Vaswani has played a key role in regaining public trust in the sector.  Now he has accepted an Honorary Doctorate from the University and at the ceremony an oration outlining his career was delivered by Professor Chris Cowton of the Business School.

“Ashok has come a long way, in more than one sense,” said Professor Cowton.  “He was born in Mumbai and graduated from the oldest college of commerce in Asia, affiliated to the University of Mumbai.

“After graduation he joined Citigroup, attracted by its pioneering work in developing consumer banking in India.  He worked for Citigroup for 20 years, his last position being CEO, Asia Pacific.  Then, prior to joining Barclays, Ashok was a partner with Brysam Global Partners.

“As head of Barclays’ day-to-day banking services, Ashok is very aware of the way in which trust in banks has been undermined in recent years,” continued Professor Cowton.  “However, he understands how well-conducted consumer banking can help people manage their lives more effectively.”

Mr Vaswani is a firm believer in technology, said Professor Cowton, but thinks that branches are still needed, although they will change from locations for transactions to places for advice and other personal services.

“After a period during which banks seemed to lose their way, Ashok has sought to re-express a sense of purpose for the Quaker-founded Barclays,” continued Professor Cowton.

Ashok wants Barclays to be a purpose-led brand that helps people from all backgrounds advance in different aspects of their lives.  Money matters, not for its own sake, but for what it enables us to do.”

Professor Cowton told how Ashok Vaswani had not forgotten his Indian roots and was Founder Director of Lend-a-Hand, a non-profit organisation focused on rural education in India.

“This understanding of the importance of education is something that has always been with Ashok.  Sadly, he lost his father at the age of six, but his mother drove him very, very hard when it came to education.”