Barclays Wealth intensifies Asia presence

Barclays Wealth made six director-level hires to its Asia Pacific private banking business in recent weeks.

The company said the hires, which were made over the past five weeks, indicate its intention to continue to capture growth in its key target markets in Greater China and Indonesia.

In 2010 the firm built up its non-resident Indian team, appointing over 20 bankers during the course of the year. Barclays said this year its focus would be on hiring senior bankers in Asia to serve ultra high and high net worth individuals, particularly in Greater China and Indonesia.

The most recent hire was Barbara Yenson who joined the company’s Hong Kong team to serve UHNW and HNW individuals in the area on 3 January. She joined the company from RBS Coutts in Hong Kong where she was vice president for the past five years.

Benjamin Yeo also joined the company on 3 January as head of research, economics and strategy, Asia.

Prior to this Preditha Dewi and Cicilia Audrey Rei joined as directors for the Indonesia team in December, while Dicky Ang joined from HSBC Private Bank as director in late November 2010, covering the high net worth and ultra high net worth client segment in Singapore and Malaysia.

The appointments follow last July’s announcement that Barclays Wealth had entered into a joint venture with Sumitomo Mitsui Banking Corporation and Nikko Cordial Securities Inc. to provide wealth management services to high net worth individuals in Japan.