Barclays, which houses one of the world’s biggest investment banks, will create about 150 new roles as the firm prepares for Britain’s exit from the European Union, a top executive told U.K. lawmakers.
Bloomberg News reports that the new hires in Europe will be in addition to the 150 current U.K.-based positions that will mostly “migrate” to Dublin, Kevin Wall, chief executive officer of Barclays’ Irish unit, said in evidence to members of the U.K. Treasury Select Committee. The London-based bank has chosen Ireland as its main EU hub after Brexit, Bloomberg reported last year.
In the meantime, Reuters reports that HSBC aims to increase its Asia private banking headcount by two-thirds in five years and double client assets in eight as it eyes a bigger share of the business in the world’s fastest-growing wealth market, top executives said.
The bank’s private banking expansion plan in Asia, which accounted for 75% of group-level profit last year, comes as the unit that caters to the rich is focusing once more on growth after years of painful restructuring.
Finally, Bloomberg News also reports that Alantra Partners SA, a Spanish investment bank, has hired three bankers in Shanghai as Chinese companies increasingly turn to Europe for overseas mergers and acquisitions.
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