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Barclays plans hiring spree to drive private banking and wealth management

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Barclays aims to hire up to 100 more advisers to drive growth in its private banking and wealth management business, but has ruled out a push into the United States because of heavy competition and high costs of entry.
Barclays Plc is planning a significant hiring spree in 2024 to bolster its private banking and wealth management sectors, aiming to capitalize on the growing wealth market. The bank intends to recruit over 200 private bankers and wealth managers, focusing on regions like the UK, US, and Asia. This expansion is part of Barclays' strategy to enhance its presence in the lucrative wealth management industry, which has seen increased demand due to a surge in high-net-worth individuals and a shift towards personalized financial services. The hiring will include both experienced professionals and new graduates, with a particular emphasis on those who can cater to ultra-high-net-worth clients. This move is also seen as a response to competitive pressures from other global banks expanding their wealth management offerings.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/barclays-plans-hiring-spree-drive-private-banking-wealth-management-2024-12-10/ ]