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January 12, 2012updated 04 Apr 2017 3:44pm

Barclay Wealth registers ‘double-digit’ percentage growth in assets last year in Switzerland

As a result of increases in the number of customers from outside the UK, the Swiss wealth management unit of Barclays had added client assets and recruited bankers last year, and is now reporting a rise in assets under management (AUM) by a “low double-digit percentage”.

By BBR Staff

Patrick Ramsey, head of Barclays Bank Suisse, said that the firm reported a rise of almost CHF18 billion in 2011, which also included funds booked outside Switzerland.

The positive result of the firm has encouraged it to hire more Swiss-based relationship managers in the year 2012.

"Switzerland is one of the main hubs for the growth of Barclays in the future," Ramsey, as quoted by Bloomberg, said.

In 2011, the number of employees servicing wealthy private clients increased from 14 to 57 and Ramsey expects the numbers to go up to 70 to 80 bankers in the year 2012.

Barclays is also planning to expand beyond its traditional base of non-UK domiciled clients and will target regions such as Latin America, Africa and Russia.

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