Barclays combines units to build wealth management in Asia

Mumbai next stop as the group leverages the capabilities of BGI and Barclays Capital.

Barclays Group has decided to aggressively build its private-banking business in Asia and is opening an office in Mumbai to service IndiaÆs growing onshore market.

ôIn Asia weÆre linking more closely to Barclays Capital and Barclays Global Investors,ö explains Thomas Kalaris, the London-based CEO of Barclays Wealth. The initiative comes from the top, pushed by Bob Diamond, the head of the group.

The firm will concentrate on Europe and Asia ex-Japan, as it deems Japan highly regulated, and the United...

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