Barclays' head of wealth advisory to depart

Barclays head of wealth advisory Philip Smith is to leave the bank.

Smith, a former Wealth Manager cover star, is leaving Barclays after five years at the bank, where he was responsible for its advisory, tax and trust propositions and post-retail distribution review strategy.

A spokesperson for the bank confirmed his departure and said a replacement would be appointed in due course. It is understood Smith’s departure is not linked to a restructure or shake-up of the management team.

Prior to Barclays, Smith headed UBS Wealth Management’s high net worth UK proposition. Previous to this he was a partner at Scott Goodman and Harris, which was later sold to UBS.

His first career was a world away from wealth management, comprising a 10-year stint in the Royal Navy’s Fleet Air Arm, flying Sea King helicopters.

Last month, Barclays announced that it was going to reverse on plans to levy an administration fee on product providers.

The bank has also been active elsewhere recently, hiring Elizabeth Bird from UBS Wealth Management and Samantha Beach from Coutts for its Manchester office in February.