Barclays Plc, Britain’s second- biggest lender by assets, plans to fire almost 100 U.K. private bankers as it cuts costs at its wealth-management unit and will close a separate call center.
Barclays Plc’s Swiss business increased client assets 22 percent last year after attracting funds from wealthy Russians, Latin Americans and Africans.
Barclays Plc, Britain’s second- biggest bank by assets, said Emmanuel Fievet, head of wealth management for the U.K. and Europe, has left the company and will be replaced by Henry Fischel-Bock.
Barclays Plc’s private bank in Geneva hired five bankers from a cross-town rival Lloyds TSB Private Banking to build its Middle East client base.
The global rebound in mergers and acquisitions stumbled in the third quarter as takeovers by U.S. and Asian acquirers failed to compensate for a 42 percent decline in purchases by European companies.
Asia-Pacific’s number of millionaires equaled Europe’s for the first time last year as the region powered the global economy’s recovery, according to a report by Capgemini SA and Merrill Lynch & Co .
Barclays Plc hired Martina Bigliardi Moehr from Credit Suisse Group AG’s Clariden Leu unit to open and head a new Zurich office that will offer private banking services to ultra-wealthy Russian clients.
"We're building an international hub here."
- Patrick Ramsey on Feb 26, 2013