Barclays Wealth & Investment Management
This is Barclays Wealth & Investment Management’s (WIM) second successive win in this segment, which underlines its commitment, competency and consistency in a region where private wealth is set to hit US$7.2 trillion by 2018.
This cements the Middle East’s position as a hub for international private wealth, with some 220,000 Middle Eastern millionaires expected to be minted by 2020. By all accounts, Barclays WIM is well poised to capitalise on the growth in both its targeted HNW and UHNW segments in the region, having posted significant cost-to-income improvement, revenues per banker as well as healthy growth in assets under management in 2015.
Indeed, nine of the top ten individuals on the Forbes Middle Eastern rich list are clients of Barclays WIM.
“Through our ‘Go To’ model, clients can have a dedicated investment adviser in addition to the private banker servicing their account,” the firm says of its UHNW proposition.
“We also have in place a Key Client framework which ensures clients have their portfolios reviewed regularly, with input from the banker, the investment team, and senior management leading to enhanced and bespoke solutions, pro-active advice and access to a much broader spectrum of investment ideas.”
In addition, among other services, such clients will also be provided with a dedicated Investment Management Proposition that harnesses the experience and expertise of over 130 professionals across nine strategic hubs.
On a broader level, the combined strength of Barclays WIM’s global investment teams and their subsequent output is “filtered down through regular Investment Committee meetings globally and on-the-ground in Dubai.”
All these have found valuable traction among clients, with reports highlighting service quality as a key driver behind customer satisfaction.
With plans to continue expanding the frontline private banking team in the Middle East, the private wealth manager is not resting on its laurels. For all the above reasons, Barclays WIM is undoubtedly the winner of 2015’s Best Private Bank – Middle East award.