Pre-tax profits at Barclays Wealth rose 9%
year-on-year to £122m ($196.8m) in the first three quarters of
2010.

The bank said the main driver for the increase
in Barclay Wealth’s pre-tax profits was the division’s strong high
net worth business:

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Assets under management at Barclays Wealth
have increased 5% to £158bn since the end of 2009.

Barclays Wealth said it continued its £350m
strategic investment programme. It estimated costs in the programme
will rise to about £80m in the second half of 2010 from £33m in the
first half of 2010.

 

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