Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Barclays private bank head Semaya retires ahead of strategic overhaul

Barclays private bank head Semaya retires ahead of strategic overhaul

Barclays’ director and former UK private banking head David Semaya is to leave the bank after 10 years.

Semaya’s decision to retire comes as the wealth and investment division’s new management team, led by Peter Horrell (pictured), instigates a new strategic direction for the business.

Semaya was head of private banking for the UK and Ireland between late 2009 and October 2012, at which point his role was assumed by Emmanuel Fievet. Semaya was then tasked with leading an initiative to establish a centre of excellence for asset management at the private bank.

Prior to this, he was chief executive for EMEA and Asia ex-Japan at Barclays Global Investors.

Alongside Horrell, the new management team includes Henry Fischel-Bock as head of UK and European private banking; Rory Tobin, responsible for global research and investments for the wealth advisory and asset management arms; Shaun Phillips as head of intermediaries and international; and Rupert Dickinson as head of Wealth Direct.

The appointment of a new leadership team comes after a challenging year for the bank in which its wealth arm has been rocked by a series of senior departures, including outgoing chief Tom Kalaris. It has also undergone a regional management restructure.

Horrell told Wealth Manager that he had taken ‘tough decisions’ to withdraw from some international markets, remove duplication and better utilise services available in different parts of the bank.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Biotech Growth: we will ride out this storm

Biotech Growth: we will ride out this storm

Geoffrey Hsu of Biotech Growth Trust says the sell-off in biotechnology stocks represents a buying opportunity for long-term investors.

Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

This week Brewin Dolphin's head of research talks to Mike Riddell, fund manager at Allianz Global Investors, about the forces driving bonds markets in a tumultuous week for markets.

Your Business: Cover Star Club

Profile: 'what we are doing at Mosaic is Darwinian'

Profile: 'what we are doing at Mosaic is Darwinian'

The changes in financial services over the last few years may leave some destitute warns Marco Sambucci of Mosaic Money Management

Wealth Manager on Twitter