View the article online at http://citywire.co.uk/wealth-manager/article/a684062
Barclays sees departures across regions
by Danielle Levy on Jun 07, 2013 at 10:08
Barclays has seen departures from its Glasgow, Liverpool and Edinburgh offices.
Mark Esner, an established private banker in the Liverpool office, has resigned from Barclays’ wealth and investment division, while Duncan Gourlay and David Ridland have left the bank’s Glasgow branch. Edinburgh-based associate director David Paterson has also left the business.
Their departures follow a management restructure of its regional offices, which has seen Mark Little’s responsibilities as managing director of Scotland and Ireland taken up by Calum Brewster.
Little remains at the bank and now sits on a committee focusing on key clients. Brewster reports into Andrew Houston, who now officially oversees all of the regions outside London: comprising the North, Scotland, Midlands, Wales and the West.
Steve Thompson is regional head for the North of England under the new structure, with overall responsibility for Manchester, Liverpool, Leeds, Newcastle and Sheffield. Alan Edwards, formerly head of Manchester, has seen his reach expand to Liverpool, while Martin Cuthbert who formerly headed the Leeds office, now oversees the bank’s Newcastle hub as well.
A spokesperson for the firm confirmed the departures and said the management restructure had taken place to ‘make sure the business is best placed to capitalise on opportunities outside of London’.
In April, the bank announced that Tom Kalaris (pictured), chief executive of Barclays’ wealth and Investment division, had decided to retire at the end of June. Kalaris, who joined the bank in September 1996, has been working with Peter Horrell, the firm’s head of intermediaries, international and direct businesses, on the transition to the new regime.
Over the first quarter, Barclays’ wealth and investment management division posted a 20% year-on-year rise in profits to £60 million, although this represented a 43% fall on the previous quarter.
Income grew 4% to £469 million, driven by high net worth business, while client assets hit a record high of £200 billion over the quarter, an 8% increase on the previous three months.
News sponsored by:
Today's top headlines
More about this:
Look up the shares
More from us
- Barclays wealth chief Kalaris to exit in boardroom overhaul
- Barclays hires Brewin 'Top 30 under 30' star Farnetti for Manchester arm
- Top 30 under 30: the 2013 class of new wealth management talent
On the road
on Mar 07, 2014 at 13:36