ZURICH (SWITZERLAND) – Barclays’ regional manager for business said that the bank has plans to foray into four new European private banking markets next year.
Gerald Mathieu was appointed the bank’s private banking head for Europe outside the UK last month. He said the British financial institution was eyeing business in France, Italy, Spain and Germany in 2021.
“These are the countries where we see a lot of opportunities, also because we have a very strong footprint of corporate and investment banking locally,” he said.
“The idea is to have a capital-light approach and work in very close collaboration with the investment bank locally, targeting family offices, ultra high net worth individuals, and some quasi-corporate or institutional clients.”
The bank does not separately report revenues or profits for private banking and it has hubs to manage assets in Monaco, Switzerland and Ireland.
Mathieu said Barclays will foray into new European markets using its EU-licensed Dublin platform in Ireland and it will join hands with local corporate and investment banking teams.