Barclays Wealth has placed private banking
veteran Robert Lynch in charge of credit structuring in the
Americas as it expands its wealth offering in the region.
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By GlobalDataThe newly-created role sees Lynch take charge
of developing a credit structuring and lending platform to improve
its US offering and provide clients in the Americas with a range of
credit solutions and deposit products.
Lynch has three decades of experience in
credit and 17 in private banking, most recently at Bank of America
US Trust. He will be working on originating and implementing new
products.
He reports to Paul Feidelson, head of the
product office, and Torben Nielsen, head of balance sheet.
“Intelligent credit solutions will be an
increasingly significant part of our overall client offering in the
Americas,” said Torben Nielsen, Head of Balance Sheet, Barclays
Wealth.
“With Bob’s experience and the strength of the
Barclays Wealth credit platform globally, we will develop top class
products tailored to our clients’ needs.”
Barclays gained wealth management operations
in Latin America as part of the deal which saw it buy part of
Lehman Brothers’ North American investment banking and capital
markets operations for $250 million.
The move comes following a reorganisation of
the bank’s operations in Hong Kong and Singapore last month.
It shed around 30 jobs as it merged its Wealth
Intermediaries unit into the international private bank and
recently appointed Joanna Chu as managing director and co-head of
north Asia, with Philip Fan. They report into Barclays Wealth’s
head of Asia-Pacific, Didier von-Daeniken.
Other significant senior industry recruitment
news includes a Bloomberg report that Ellyn McColgan, president of
Morgan Stanley’s global wealth management unit, may quit the
company.
Bloomberg cited a memo written by Morgan
Stanley co-president James Gorman and CEO John Mack, saying she was
pursuing other avenues following the decision to merge Morgan
Stanley with Citi’s Smith Barney brokerage.
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Recruitment |
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Senior moves, January (sorted by new |
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|
Country |
Name |
Moved from |
Moved to |
Old position |
New position |
|
US |
Eric Callen |
Credit Suisse |
Leave of absence |
Head of global hedge funds |
– |
|
Switzerland |
Bernard Sontag |
SG Private Banking |
Unknown |
Head of Swiss private banking |
– |
|
UK |
Adrian Gayler |
Merrill Lynch |
Bank of London & Middle East |
VP, global wealth management |
Head of private banking |
|
US |
Robert Lynch |
US Trust |
Barclays Wealth |
Head of banking |
MD, head of credit structuring (Americas) |
|
Singapore |
Joanna Chu |
Hang Seng Bank |
Barclays Wealth |
Head of private banking and |
MD and co-head |
|
Germany |
Achim Kassow |
Commerzbank |
Commerzbank |
Managing director, Commerzbank |
Head of |
|
Russia |
Igor Soglayev |
Single Family Office |
Deutsche Bank |
Head of |
Head of Russian private wealth management |
|
US |
Randall Jones |
Morgan Stanley |
Morgan Stanley |
Financial adviser, Lawrence office |
VP global wealth management |
|
India |
Shiv Gupta |
RBS |
RBS |
Head of private banking, Thailand |
Head of private clients, India |
|
Switzerland |
Guiillaume Lejoindre |
SG Private Banking |
SG Private Banking |
Managing director |
Head of Swiss private banking |
|
Source: PBI |
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