Barclays Wealth Continues to Expand Latin America Offering With New Hires in the Americas and Europe

NEW YORK, Oct. 5, 2011 /PRNewswire/ -- Barclays Wealth, a leading global wealth manager by assets under management, is pleased to announce three new hires to support the expansion of its strategy across the Latin American ultra high net worth client base.  

Narciso Munoz has been hired as an Investment Representative in the Americas, and Isaac Topel and Andres Cazenave have been appointed as Private Bankers in Switzerland. These new hires join a 70-strong global team of advisors and bankers serving the needs of Latin American clients.

Mr. Munoz, who is based in the Miami office, joins from HSBC's International Private Bank, bringing over 17 years of wealth management experience serving ultra high net worth Latin American families and individuals. During the past seven years at HSBC, Mr. Munoz focused on the Argentine market. Prior to this, he spent ten years at BankBoston in Argentina where he worked with individual and institutional clients.  

Mr. Topel and Mr. Cazenave join the firm's Geneva office from JP Morgan where they served Swiss-based Latin American ultra high net worth clients.  Previously, Mr. Topel held wealth management roles at BankBoston, PaineWebber and Merrill Lynch International Private Finance.  Prior to JP Morgan, Mr. Cazenave worked at UBS Wealth Management and HSBC Private Bank serving wealthy Latin American clients.  

As part of its increased focus on Latin American clients, Barclays Wealth earlier this year hired Daniel Esslinger as a Managing Director and Head of Latin American Relationship Management and Distribution in the Americas, and Thomas Roiz as a Managing Director and Market Head for Latin America in Europe, the Middle East and Africa. Mr. Esslinger is based in Miami, while Mr. Roiz is located in Geneva.

"Over the last decade, Latin America has seen extensive growth in the wealth market and for Barclays this is a priority area for expansion as we continue to build our integrated global wealth management business," said Steve Houston, Head of Wealth Management, Americas, who oversees the regional offices and Investment Representative network. He continued: "I am pleased Daniel will help drive the firm's Latin American business strategy. Barclays Wealth is well positioned to serve the needs of ultra high net worth families and individuals, who are increasingly seeking a full-service wealth management offering."

Many of the Latin America-focused hires are based in the Americas where the firm has, over the last 18-months, been bolstering its Investment Representative network. The advisors based in the U.S. include: Louis Tinoco, Rene Joliot, Edgar Ramirez and Romel Rodriguez who joined from UBS Wealth Management; Ruben Lesmes and Tony Esses from HSBC Private Bank and Jorge Carreras and Carlos Molina from the Private Wealth Management division of Morgan Stanley Smith Barney. In the Americas, the firm's Latin American business is supported out of its 13 offices including Miami, New York and Houston.

Mitch Cox, Head of Barclays Wealth in the Americas and Head of Research and Investments globally, commented: "We are pleased to welcome these talented and experienced individuals to the firm to help build our Latin American business. Over the last year and a half, our strategy for building a robust wealth management offering for Latin American ultra high net worth clients has accelerated. The firm's approach of providing clients with highly customized solutions and service as well as access to the expansive global resources of Barclays PLC is a compelling proposition for seasoned wealth advisors serving the ultra high net worth market."  

With 13 offices across the Americas, including the Barclays Wealth Trustees (U.S.), NA., Barclays Wealth provides comprehensive wealth management to high net worth individuals and families. The firm focuses on understanding its clients' financial needs, personal aspirations and tolerance for risk in order to design and implement highly customized investment solutions.

About Barclays Wealth

Barclays Wealth is a leading global wealth manager, and the UK's largest, with total client assets of $272bn (170bn pounds Sterling) as of 30 June 2011. With offices in over 20 countries, Barclays Wealth focuses on private and intermediary clients worldwide, providing international and private banking, investment management, fiduciary services and brokerage.

Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 145,000 people. Barclays moves, lends and invests money for customers and clients worldwide

For further information about Barclays Wealth, please visit our website www.barclayswealthamericas.com.

Barclays Wealth is the wealth management division of Barclays Bank PLC, functioning through Barclays Capital Inc. in the United States. Barclays Capital Inc., an affiliate of Barclays Bank PLC, is a U.S. registered broker-dealer and investment advisor, regulated by the U.S. Securities and Exchange Commission. The registered office of Barclays Capital Inc. is 745 Seventh Avenue, New York, NY 10019. Barclays Bank PLC is registered in England and Wales (registered no. 1026167) with a registered office at 1 Churchill Place, London, E14 5HP, United Kingdom. Barclays Bank PLC is authorized and regulated by the Financial Services Authority. Member SIPC.

SOURCE Barclays Wealth