“there might be a more legitimate reason why many wealth managers steer clear of Norway” -- David Bain
Sunday, 22nd November 2009
Barclays Wealth has hired a head for its UK resident non-domiciled client team from UBS.
John Saunders joins as a managing director and head of UK resident non-domiciled clients.
Saunders was previously with UBS Wealth Management in London where he spent the last 10 years, most recently as chief of staff for the UK.
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”.
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