You are here:

Barclays seeks to be top 3 in the independent asset managers space with new team in Singapore

22 Aug 2012 10:27 GMT

Barclays today announced that it has set up an Independent Asset Managers (IAM) team in Singapore, as it continues to capitalise on market opportunities in Asia, and further grow its private banking business in the region. Cedric Lizin has been appointed as Head of the Independent Asset Managers segment, Asia Pacific at Barclays. Based in Singapore, he is tasked with building Barclays’ offering to serve the needs of this target segment, and managing a team of bankers to spearhead the growth of this new business. As part of this build-out, Barclays hired Annabelle Chow as Director, Team Head, as well as Josephine Koh, as Director, in July 2012.

  • New client segment is expected to further drive the growth of Barclays private banking business in Asia
  • Target to be a top three player within this space in the region

Singapore, 22 August 2012: Barclays today announced that it has set up an Independent Asset Managers (IAM) team in Singapore, as it continues to capitalise on market opportunities in Asia, and further grow its private banking business in the region.

Cedric Lizin has been appointed as Head of the Independent Asset Managers segment, Asia Pacific at Barclays. Based in Singapore, he is tasked with building Barclays’ offering to serve the needs of this target segment, and managing a team of bankers to spearhead the growth of this new business. Mr. Lizin is also Head of Japan, as well as Head of Key Clients, Asia Pacific, at Barclays. He has been with Barclays since 2007, when he joined the wealth and investment division as Chief Operating Officer Asia Pacific.

As part of this build-out, Barclays hired Annabelle Chow as Director, Team Head, as well as Josephine Koh, as Director, in July 2012. Both Ms. Chow and Ms. Koh joined from Credit Suisse in Singapore, where they were Team Head and Deputy Team Head respectively, and have spent the past eight years building up the independent asset manager offering and serving this client segment in their previous employment.

On joining Barclays, Ms. Chow commented, “What attracted me to joining Barclays was its commitment to the wealth business in Asia and aggressive growth plans for the region. Through its £350 million investment globally, it has built a superior platform which is best in class in the industry. With a comprehensive product offering on an open architecture platform, I am confident that Barclays is able to offer IAMs the full range of wealth management and investment banking services.”

Barclays provides the IAMs with access to a full range of investment solutions, leveraging on Barclays capabilities, specifically in research, investment products, direct trading and market access, credit, wealth advisory and investment banking. The IAMs will also get access to Barclays online capabilities in offering end-clients account aggregation, performance reporting and statements, with real-time access to bank accounts, balances and transactions.

Mr. Lizin commented, “The set up of the IAM team will allow us to tap into a segment of UHNWIs who prefer to deal with independent asset managers and engage them as external advisers. With our team of dedicated experienced bankers to serve the needs of IAMs and their clients, we see ourselves as partners to the IAMs, leveraging our extensive capabilities and tapping on the IAMs’ network and resources to reach out to a wider spectrum of clients.”

Mr. Lizin added, “The IAM industry is still in its infancy, holding less than 5% of total assets under management within the private banking industry. We expect this segment to grow at a much faster rate than the approximately 10% per annum growth rate of the overall wealth management industry in the region over the next few years. Looking at the more established wealth management hubs such as Switzerland, we project that it will grow to around 30% of private banking AUM. With our business model, value proposition, and highly experienced team, we expect to capture market share very quickly, break even in the first year of operations and be a net contributor to Barclays’ private banking business in Asia.”


About Barclays

 

Barclays moves, lends and invests money for customers and clients worldwide.  With over 300 years of history and expertise in banking, we operate in over 50 countries and employ over 140,000 people.



Our customers and clients benefit from access to the breadth of expertise across Barclays.  We are one of the largest financial services providers in the world, engaged in retail banking, credit cards, corporate and investment banking, and wealth and investment management.

 

We are a leading global wealth and investment manager providing international and private banking, wealth planning, trust and fiduciary services, investment management, brokerage services and research to private and intermediary clients around the world.

 

“Barclays” refers to any company in the Barclays PLC group of companies.

 

Barclays offers wealth management products and services to its clients through Barclays Bank PLC ("BBPLC"), functioning in the United States through Barclays Capital Inc. ("BCI"), an affiliate of BBPLC.  BCI is a registered broker dealer and investment adviser, regulated by the U.S. Securities and Exchange Commission, with offices at 200 Park Avenue, New York, New York 10166.  Member FINRA and SIPC. Barclays Bank PLC, registered in England and Wales (no. 1026167), has a registered office at 1 Churchill Place, London, E14 5HP, United Kingdom, and is regulated by the Financial Services Authority.

 

Mortgage products and services in the U.S are offered by Barclays Bank Delaware (“BBD”), member FDIC.  Custom lending is offered via BBPLC, New York Branch.  Securities investing and brokerage products and services are offered exclusively through BCI.  A relationship with the Barclays Wealth and Investment Management unit need not be established or maintained to obtain BBD or BBPLC, New York Branch products or pricing.  Bank regulations require that the loan review and approval proves to be independent of, and cannot be impacted by, brokerage/investment-related matters or other business dealings.

 

Trust and fiduciary services are offered through Barclays Wealth Trustees (U.S.), N.A. (“BWT”) a limited purpose national bank. BWT is subject to regulation and examination by the Office of the Comptroller of the Currency. BWT is an indirect, wholly-owned subsidiary of BBPLC and an affiliate of BCI and various other subsidiaries of, and entities affiliated with, BBPLC.

 

This is not a solicitation of any products or services.