‘Bar­clays plans 100 new hires’

New Straits Times - - Business | World -

LON­DON: Bar­clays will hire 100 new em­ploy­ees in its pri­vate bank as it launches its sec­ond at­tempt in the last seven years to win more busi­ness from wealthy clients, said a source.

The hires would be a mix­ture of re­la­tion­ship man­agers and the ad­min­is­tra­tive and risk man­age­ment staff nec­es­sary to sup­port them, said the source.

The push marks a change in di­rec­tion for the lender af­ter a pre­vi­ous failed ex­pan­sion ended in 2014 with Bar­clays fold­ing its wealth man­age­ment busi­ness back into its re­tail bank as it missed growth tar­gets.

Bar­clays would now seek to bol­ster staff in its pri­vate bank­ing hubs of Lon­don, Dublin, Geneva, Monaco, In­dia, Dubai, Jer­sey, Guernsey and the Isle of Man, said the source.

Bar­clays’ strat­egy would be dif­fer­ent from its last at­tempt, said the source, and fo­cus on in­creas­ing prof­its rather than as­sets by im­prov­ing the prod­ucts and co­op­er­a­tion with Bar­clays in­vest­ment bank.

The hires will be in Bar­clays Pri­vate Bank & Over­seas Ser­vices, the arm of the lender’s wealth di­vi­sion that sits in­side the Bar­clays In­ter­na­tional unit run by Aus­tralian Tim Throsby. Reuters

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.