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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.

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