Barclays to restructure Wealth and Private Bank arms

Subject to regulatory approval

James Baxter-Derrington
clock • 1 min read

Barclays is set to undergo a structural update in order to combine its Wealth and Investments and Private Bank arms.

The new structure will "bring together" the two divisions, although it is yet unknown precisely how this will look in practice. A Barclays spokesperson said the intention was to position its combined wealth franchise for "future growth". The process is ongoing and remains subject to regulatory approval. A spokesperson added: "We will provide more detail on our plans in due course." Last week it was revealed Barclays Wealth CEO Dirk Klee had departed the firm three and a half years after he joined and is set to take the top role at the Swiss cryptocurrency house, which was founded i...

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