Barclays launches new corporate banking service

A new division, offering trade finance and cash management services for professional service firms, opens in Hong Kong.

Barclays Bank will today formally launch its new international corporate banking service in Hong Kong. The division will be run by Katherine Morgan with a team of around 13 bankers supporting her.

The division aims to offer wholesale banking services to professional services firms such as accountants, lawyers, solicitors and trust companies, whose clients are the 100,000 or so import export companies that operate in Hong Kong and China.

Barclays will offer its services to the intermediaries - companies such as Ocra, Sovereign, and EQ - which can then offer the banking services to their clients. It is understood that just 40 companies control 80% of this...

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