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Barclays Wealth in £1m Scottish expansion drive
Barclays Wealth is aiming to gain market share north of the Border after investing £1 million in new headquarters.
The division, which manages £3 billion of assets for Scottish clients, says it has doubled the size of its business in Edinburgh in the past three years and is targeting further expansion, even though it believes the level of wealth in Scotland is hardly growing.
John Godfrey, head of the Edinburgh office, said the business had benefited from the turmoil in the banking world.
He said wealthy people were seeking more advice on managing their money and there had been a trend towards pooling their assets under one manager, rather that having them spread out over several companies.
Godfrey said that with Scottish GDP growth forecast to be around 1 per cent this year, he is not expecting any great expansion in the market, but he is aiming to continue the growth of the Edinburgh office, taking on staff if he can find suitable candidates.
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Wednesday 23 May 2012
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