Barclays Wealth Set to Lose Regional Teams to Brewin, Williams de Broe

Stephen Harris

5 March 2008

Barclays Wealth is this week negotiating with client facing teams from its Gerrard operations in Nottingham and Edinburgh who have tendered their resignations. Up to 25 relationship managers from the Nottingham office are planning leave to join Brewin Dolphin and around 20 from Edinburgh may go to Evolution-owned Williams de Broe. Mark Kibblewhite, head of Barclays Wealth’s UK operation confirmed to WealthBriefing that talks to keep the staff were ongoing, whilst reiterating that both geographical areas remain important to the business. “This is a career choice for individual bankers, for clients there has been no change in type or level of service since Barclays bought Gerrard,” he said. “Some people prefer to work in a traditional stockbroking environment and we respect them for that.” Mr Kibblewhite said Barclays Wealth had made 150 hires in the UK in the last year and were planning to add another 80 to its 400 in the current year. “We have high expectations of staff and this organisation is performance oriented. We set the bar very high and this doesn’t necessarily suit everyone,” he said.