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' wealth team in Newcastle corporate bank tie-up

Barclays' wealth team in Newcastle corporate bank tie-up

Barclays Wealth and Investment is co-locating with its corporate banking team to a new office in Newcastle.

It is a trend that some expect will gather speed as leases for Barclays Wealth & Investment Management offices come up for renewal and follows the bank's decision to fold its wealth division into its retail unit. Earlier in May Barclays said its wealth arm would cease to exist as a standalone business as part of a strategic overhaul aimed at improving profitability. 

The wealth and investment team in Newcastle have relocated from Cross House, Westgate Road, and will work alongside their corporate banking colleagues.

'As a combined team, we will be well-placed to advise across a wide range of circumstances: from entrepreneurs looking to take the next step with their business or families seeking support on inheritance and succession planning, ' Andrew Miller, regional director for Barclays Wealth and Investment Management in Newcastle said.  

'Newcastle is a fantastic place to do business and the move to the new offices is major investment for the city and the North East. It will offer an excellent environment for both our clients and our employees and enables us to bring our banking operations under one roof as well as demonstrating our ongoing commitment to the local economy and wealth creation in the region.' Brian Thorpe, head of Barclays Corporate Banking in the North East said.

The banks has revamped its wealth management proposition over the past six months under new chief Peter Horrell (pictured), who has scrapped dedicated private bankers for sub-£500,000 clients. As revealed by Wealth Manager in November of last year, clients will now be handled out of call centres in Glasgow, Birmingham and London and given an unregulated point of contact, overseen by a regulated private client manager. The overhaul followed a 35% reduction in private banker headcount and a regional management restructure.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Brewin's Gutteridge: where Miton's Godber sees value

Brewin's Gutteridge: where Miton's Godber sees value

This week Brewin Dolphin's research head talks to George Godber, co-lead fund manager of the Miton UK Value Opportunities fund, about value investing.

Your Business: Cover Star Club

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Rathbones’ Glasgow office has only been open for three months but the team, led by Angus Kerr, has already attracted new clients

Wealth Manager on Twitter