Shourie will be battling in what may be the most competitive sector in the region: FIG has become the hottest corner of investment banking now that tech and telecoms have lost their lustre.

He is, however, no stranger to the business. Shourie joins Barclays in Singapore from Credit Suisse First Boston, where he was head of asset finance in Singapore and Tokyo, a business he established for CSFB in 1997. Prior to that, he served at Bankers Trust in London’s financial institutions merchant banking group, specializing in advising banks on balance sheet restructurings and capital markets monoline insured transactions.

It was at Bankers Trust that Shourie first worked with Arnault de Torquat, who is now Barclays’ managing director and head of FIG. Shourie will report both to de Torquat in London as well as Stephen Li, Singapore-based head of Asian investment banking.

Barclays will be building a FIG business almost from scratch in this region, which is why de Torquat hired his former colleague. “Raj, given his strong product background and experience in the region, has the credentials to build a successful business,” he says.

Li adds Shourie’s expertise can leverage off Barclays’ existing relationships with Asian financial institutions. Li adds Barclays believes it can build momentum off a long list of recent successful transactions for such clients.