Barclays Wealth has shut its wealth management
unit in Buenos Aires, Argentina.

The local unit, Barclays Sudamerica SA, was
the bank’s only management office in Latin America.

A statement released by Barclays said that the
move was a strategic one as the bank attempts to align how they
service their clients throughout Latin America.

A spokesperson for Barclays said that they
currently service their clients in Latin America from their offices
in the US and Europe and will continue to do so.

It is understood that Barclays Wealth has held
the unit since 2008.