Barclays is planning to boost headcount in its wealth and investment management division in the MENA region by 15-20%, said Cedric Lizin, the bank’s head of wealth management, MENA and head of business for Japan.
Under the expansion plan, Barclays, which now has 100 people in its wealth and investment management division in the MENA region, aims to hire directors and managing directors, reported eFinancialCareers.
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Additionally, the bank is seeking to expand its UHNW operation in the Middle East across its offices in Dubai, Abu Dhabi and Qatar.
Lizin said that the bank plans to aggressively grow the non-resident Indian (NRI) business across the region as well as in Singapore, London and Geneva.
"We’re focusing on quality over quantity we have budget to increase headcount by 15-20%, but I think we might be constrained by the number of quality candidates available in the market. The supply of senior bankers with established relationships with ultra-high-net-worth individuals in the region is limited, but we have scope to grow.
"We’re looking for senior bankers with quality access to UHNWs, not those with clients in the lower wealth categories or those without direct access," Lizin added.
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