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February 2, 2009updated 04 Apr 2017 3:57pm

Barclays Wealth expands in LatAm

Barclays Wealth has placed private banking veteran Robert Lynch in charge of credit structuring in the Americas as it expands its wealth offering in the region.

By PBI Editorial

Barclays Wealth has placed private banking veteran Robert Lynch in charge of credit structuring in the Americas as it expands its wealth offering in the region.

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GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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The newly-created role sees Lynch take charge of developing a credit structuring and lending platform to improve its US offering and provide clients in the Americas with a range of credit solutions and deposit products.

Lynch has three decades of experience in credit and 17 in private banking, most recently at Bank of America US Trust. He will be working on originating and implementing new products.

He reports to Paul Feidelson, head of the product office, and Torben Nielsen, head of balance sheet.

“Intelligent credit solutions will be an increasingly significant part of our overall client offering in the Americas,” said Torben Nielsen, Head of Balance Sheet, Barclays Wealth.

“With Bob’s experience and the strength of the Barclays Wealth credit platform globally, we will develop top class products tailored to our clients’ needs.”

Barclays gained wealth management operations in Latin America as part of the deal which saw it buy part of Lehman Brothers’ North American investment banking and capital markets operations for $250 million.

The move comes following a reorganisation of the bank’s operations in Hong Kong and Singapore last month.

It shed around 30 jobs as it merged its Wealth Intermediaries unit into the international private bank and recently appointed Joanna Chu as managing director and co-head of north Asia, with Philip Fan. They report into Barclays Wealth’s head of Asia-Pacific, Didier von-Daeniken.

Other significant senior industry recruitment news includes a Bloomberg report that Ellyn McColgan, president of Morgan Stanley’s global wealth management unit, may quit the company.

Bloomberg cited a memo written by Morgan Stanley co-president James Gorman and CEO John Mack, saying she was pursuing other avenues following the decision to merge Morgan Stanley with Citi’s Smith Barney brokerage.

 

Recruitment

Senior moves, January (sorted by new employer)

Country

Name

Moved from

Moved to

Old position

New position

US

Eric Callen

Credit Suisse

Leave of absence

Head of global hedge funds

Switzerland

Bernard Sontag

SG Private Banking

Unknown

Head of Swiss private banking

UK

Adrian Gayler

Merrill Lynch

Bank of London & Middle East

VP, global wealth management

Head of private banking

US

Robert Lynch

US Trust

Barclays Wealth

Head of banking and lending

MD, head of credit structuring (Americas)

Singapore

Joanna Chu

Hang Seng Bank

Barclays Wealth

Head of private banking and trust services

MD and co-head of North Asia

Germany

Achim Kassow

Commerzbank

Commerzbank

Managing director, Commerzbank

Head of private clients, Dresdner Bank

Russia

Igor Soglayev

Single Family Office

Deutsche Bank

Head of family office

Head of Russian private wealth management

US

Randall Jones

Morgan Stanley

Morgan Stanley

Financial adviser, Lawrence office

VP global wealth management

India

Shiv Gupta

RBS

RBS

Head of private banking, Thailand

Head of private clients, India

Switzerland

Guiillaume Lejoindre

SG Private Banking

SG Private Banking

Managing director

Head of Swiss private banking

Source: PBI

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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