Akshaya Bhargava, a former chief executive of Barclays Wealth and Investment Management (W&IM), has launched a new London-based Fintech firm called Bridgeweave.
The new firm, the latest venture created by Mr Bhargava, a serial entrepreneur, intends to capitalise on the current wave of Fintech innovation to launch a variety of new products.
“We share a strong conviction that new technologies like machine learning, cognitive technology, deep learning, AI, [and] blockchain will allow [the] creation of financial products that cannot be possible with conventional technology,” the new firm says on its website.
“Our first product will launch soon, we use AI to help people make better investment decisions by providing institutional standard quantitative research to private investors and their advisers.”
Bridgeweave reunites Mr Bhargava with Bruce Keith, a former chief executive of Infrahedge, another firm created by the former Barclays W&IM head. Mr Keith, who is a former director of growth capital at 3i, a London-listed private equity firm, is Brideweave’s chief commercial officer.
Other personnel involved in the venture include Manoj Saxena, Naween Balani and Sarthak Behura.
Mr Saxena, a Bridgeweave director, is a former general manager of IBM Watson, and another serial Fintech entrepreneur. He is the current chairman of Cognitive Scale, a US-based Fintech firm, and the founder of Webify, a firm subsequently acquired by IBM.
He is also the founding general partner of The Entrepreneurs Fund, a San Mateo, California-based venture capital fund.
Mr Balani, another IBM Watson alumnus, who has 18 years experience in Fintech, is Bridgeweave’s head of technology architecture.
Mr Behura, Bridgeweave’s head of product development, is a former equity and wealth strategist in the CIO’s office at UBS Wealth Management.
Mr Bhargava joined Barclays in 2014 from InfraHedge the company he founded in 2010 which was subsequently acquired by State Street. He succeeded Peter Horrell as head of Barclays W&IM. He left Barclays in the middle of 2017.
A Citibank veteran of 22 years standing Mr Bhargava is also the founder of Progeon, a firm bought by Infosys.