Barclays said to be on a hiring spree to attract more wealthy clients
London — Barclays will hire 100 new staff in its private bank as it launches its second attempt in the past seven years to win more business from wealthy clients, a source with direct knowledge of the plans told Reuters. The new staff would be a mixture of relationship managers — the money-earners in private banking who attract and serve customers — and the administrative and risk management staff necessary to support them, the source said. The push marks a change in direction for the British lender after a previous failed expansion ended in 2014 with Barclays folding its wealth management business back into its retail bank as it missed ambitious 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, the source said. "In line with Barclays International’s overall strategy we are positively investing in Private Bank and Overseas Services," a Barclays spokesperson said....
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