Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of 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 Navigating geopolitical risk with ETFs

Navigating geopolitical risk with ETFs

ETFGI’s Deborah Fuhr on how investors can use exchange-traded funds to position their portfolio.

Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Your Business: Cover Star Club

Profile: Barclays' former advisory boss on his move into property

Profile: Barclays' former advisory boss on his move into property

On paper, Rick Denton might have been expected to finish his career in banking

Wealth Manager on Twitter