Barclays hires another industry heavyweight

Barclays Building Sign

They're packing 'em in at Barclays.

Barclays has announced the appointment of Vivian Chan as Regional Head of North Asia to its wealth and investment management division.

She joins on 5 August 2013, reporting to Didier von Daeniken, Head of Wealth Management for Asia Pacific, Middle East and Africa.

Ms Chan joins Barclays from Credit Suisse, where she was Managing Director and Market Leader for Greater China responsible for running one of the most successful teams within the firm. She was also instrumental in building up the firm’s ultra high net worth client portfolio. An industry veteran, she brings with her over 30 years of experience and expertise in building businesses and managing ultra high net worth client relationships that require complex private and business wealth management needs.

Robert Morrice, Chairman and Chief Executive, Barclays Asia Pacific, said, 'North Asia is a key region for us and we have seen significant growth in the corporate and investment banking as well as wealth management space. Our successful wealth management business has been driven by the rapid rate of wealth creation and our strengths in providing private investment banking capabilities. With our One Barclays approach, we are able to offer clients a range of institutional disciplines and expertise, and to be a true partner for all their personal wealth management and business needs. With her deep client insights and industry experience, I am confident that Vivian will enable Barclays to further up the ante on the delivery of relevant and impactful solutions for our clients'.

The hiring of Vivian Chan is another coup for Barclays, as it continues to invert its banker pyramid. Recognising the importance of a strong team of senior bankers to partner with clients through volatile markets and to meet their increasingly sophisticated needs, Barclays has now over 50% of its bankers in Asia with more than 15 years of experience.

Didier von Daeniken said, 'As one of the fastest growing private banks across the region, we continue to see a tremendous opportunity within Greater China. Hiring of top talent remains an industry challenge amidst a highly competitive landscape and it is a significant win for Barclays to have Vivian join us to lead our North Asia business. She ranks among the most respected and admired leaders within the private banking industry in Hong Kong and I am delighted to have her on board to further deepen our footprint'.

Besides growing its team of senior bankers, Barclays has also expanded its offering to clients across Greater China since the establishment of its second Asian booking centre in Hong Kong in 2010 and the launch of its Greater China desk based out of Singapore in 2011. As investor interest in yuan trading and investments continues to increase, it further extended its range of offshore CNH-denominated products and services and has now among one of the most comprehensive offerings in the industry. Most recently, it rolled out a complete range of OTC derivatives using CNH as an underlying.

image: © Elliot Brown

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