NEW YORK, Oct. 27 /PRNewswire/ -- Barclays Wealth, one of the leading global wealth management firms, is pleased to announce that Michael A. Burke has joined the firm as a Managing Director and Regional Manager of its Washington, D.C. office.
In this newly-created role, Mr. Burke will manage all aspects of the DC office, which opened in mid-2009, and grow Barclays Wealth's business in the DC metro area and Mid-Atlantic region. He will report to Steve Houston, Head of Wealth Management, who oversees the branch manager and Investment Representative network in the Americas.
Mr. Burke brings extensive wealth management experience to his new position, including over 15 years in sales management. Most recently, he was Head of Deutsche Bank Alex Brown, the U.S. Private Client Services division of Deutsche Bank, overseeing 300 advisors in 16 offices, and a member of the board of directors of Deutsche Bank Securities Inc. Prior to that, Mr. Burke worked at Morgan Stanley for 17 years, serving in several senior sales roles including Director of National Sales and Regional Director for the Southern U.S. Mr. Burke began his career as a Fixed Income Specialist at Smith Barney before becoming a financial advisor at Morgan Stanley. He holds a BS from Radford University. He currently serves on the national board of trustees for United Cerebral Palsy.
"Michael has tremendous experience in building and managing wealth management businesses at the branch, regional and national level," said Mitch Cox, Head of Barclays Wealth, Americas, and Head of Global Research and Investments for all of Barclays Wealth. "We are delighted to have a professional of his stature join our branch management team in the Americas as we continue to expand regionally."
With 14 offices, including its trust company office, across the U.S. and Latin America, Barclays Wealth in the Americas 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. As part of Barclays Group, Barclays Wealth leverages the world-class resources and platform of a global financial services company on behalf of its clients.
"A high-end private wealth boutique properly integrated into a global banking powerhouse offers a tremendous opportunity for Investment Representatives and clients," said Mr. Burke. "Barclays Wealth is just that, and I am delighted to be joining the firm as they continue their rapid growth in the U.S."
"The DC-metro area is one of the fastest growing in terms of the high net worth investors," said Mr. Houston. "I look forward to Michael's leadership of the DC office."
About Barclays Wealth
Barclays Wealth is a leading global wealth manager, and the UK's largest, with total client assets of $232bn (153.5bn pounds Sterling), as of June 30, 2010. 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 Group is a major global financial services provider engaged in retail and commercial banking, credit cards, corporate banking, investment banking, wealth management and investment management services with an extensive international presence in Europe, the Americas, Africa and Asia.
For further information about Barclays Wealth, please visit our website www.barclayswealthamericas.com.
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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 regulated by the Securities & Exchange Commission. Member SIPC.
SOURCE Barclays Wealth