24 October 2008: Barclays Wealth Intermediaries strengthens senior management team in line with ongoing expansion of offshore financial markets business

Barclays Wealth Intermediaries has strengthened the senior management team of its Offshore Financial Markets business following dramatic growth in the two years since it was launched.  The changes include the appointment of Richard Gillard as European Head of the Offshore Financial Markets team and several changes across the key jurisdictions in which the business operates.

As Head of Europe, Richard Gillard will be based in London, reporting into Head of Offshore Financial Markets, David Stanley.  Richard has worked for Barclays for 24 years and was previously at Barclays Commercial where he was Area Corporate Director in the Manufacturing, Technology Media & Telecoms team, responsible for a Team of 50 in London.  Prior to that, he worked as a Relationship Director within the Midlands Larger Business Team based in Birmingham, where he built and launched a Technology & Telecoms proposition to the PLC and private equity Markets.  Richard will have responsibility for overseeing the Offshore Financial Markets business in the three European jurisdictions in which it operates and also the ongoing development in new locations across Europe. 

The Isle of Man office has been strengthened following the appointment of Andrew Sharpe and Simon Hirtenstein as Managers. Andrew has worked for Barclays for three years and has nearly 30 years experience in the finance industry.  He will be responsible for managing Institutional clients based in the Isle of Man, with the additional focus of working with international companies who are raising capital in London by listing on AIM or via a full listing.  Simon is a new hire to Barclays Wealth, having spent the last ten years in financial services in Bermuda and Canada. Simon will be responsible for developing the funds management business, linking closely with the London and  internationally-based professionals to bring business to the Isle of Man. These key hires will be fundamental in supporting the growth this jurisdiction is currently seeing.

 The business has also recruited in Guernsey with Lee Hodson, who has worked within Barclays Wealth’s Corporate team for the past two years, and joined the wider Barclays Group in 2000.  In her new role as a manager within Offshore Financial Markets, Lee will have responsibility for driving growth in the very successful Guernsey Captive Insurance market.

The appointments coincide with the promotions of Simon Phillips in Jersey and James Sherbourne in Guernsey to Associate Director.   Simon has 19 years experience in the finance industry with the last nine being based offshore in a number of different jurisdictions. He joined Barclays in 2006 and has been promoted to Associate Director with responsibility for the Jersey OFM team.   James has worked in the finance industry for 16 years, having started his career at RBSI in Guernsey.  James has worked for a number of financial businesses across the Channel Islands including Quilter & Co, Collins Stewart, BNP Paribas and VHC International Ltd.  He joined the Offshore Financial Markets team in 2007 and in his new role, he will continue to focus on client management, with overarching responsibility for  Guernsey and the business’s development locally.

Further afield, Anny Au Yeung has been recruited as a Relationship Manager for the Offshore Financial Markets business in Hong Kong.  Anny has close to ten years of corporate banking experience.

Barclays Wealth’s Offshore Financial Markets business was established in Jersey in 2006 as a key part of Barclays Wealth Intermediaries.  The business operates in six countries and is headed by David Stanley, a Director who spent 12 years at Citibank.  It provides a range of banking solutions and services to the funds, investment management, banks, life and captive insurance sectors and draws on the expertise and capabilities of the wider Barclays Group to meet the needs of clients.

David Stanley, Director and Head of Barclays Wealth’s Offshore Financial Markets business commented, ‘We are delighted with the rapid and continued expansion of the Offshore Financial Markets team despite the current market turmoil.  At Barclays Wealth Intermediaries we are working closely with our clients in all regions to ensure they weather the storm of the external market conditions – something we are well equipped to advise on given the experience and expertise of our team and the responsive service we have been able to provide our clients. We have ambitious plans for further growth through the recruitment of outstanding people and the expansion of our global presence and these recent promotions and appointments will provide us with a talented management team to lead the business forward.’

For further information contact:

Caroline Wells, Barclays Wealth Corporate Communications
020 7114 7435

Nicola Hankey, Barclays Wealth Corporate Communications
020 7114 9813