Sunday, 8th November 2009

 

2 July 2009 - Press Briefing

Barclays Wealth seeks aggressive expansion in the Americas

Barclays Wealth intends to recruit as many as 200 high-end investment representatives over the next four years in a move to enhance its new wealth management footprint in the Americas, according to a report in The Wall Street Journal.

Since purchasing Lehman Brothers’ private investment management arm, the UK firm has hired about 50 representatives - almost 50% of whom were top producers having an average annual production of roughly $2.9m (€2m) and client assets worth more than $350m.

Tom Kalaris, chief executive of Barclays Wealth, said that the firm would continue its strategy of shunning the retail market and focusing purely on the “higher end of scale” in the US - individuals with minimum investable assets worth $10m.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

Sotheby's 3Q loss widens

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