Barclays Swiss Private Bank Hires Wealth Managers From Lloyds

Barclays Plc’s private bank in Geneva hired five bankers from a cross-town rival Lloyds TSB Private Banking to build its Middle East client base.

The new staff including Mike Ferguson, who joins as a managing director, brings hiring in Geneva to seven this year, Patrick Ramsey, general manager of Barclays Bank (Suisse) SA, said today in a phone interview. The other arrivals are Sylvie Orsatti, Sana Al-Habal, Philippe Sala and Fawziyah Khazal.

“They’re focused on the Middle East,” Ramsey said. “We’re in discussions with a few others.”

The new hires will increase Barclays’s Geneva-based relationship managers to more than 50, Ramsey said. The U.K. bank’s wealth management arm, which oversaw 164 billion pounds ($267.4 billion) worldwide at the end of 2010, has hired more than 100 bankers this year, according to Emmanuel Fievet, head of international private banking.

Barclays’s Swiss wealth business had 16 billion francs ($17.9 billion) under management at the end of 2009.

Lloyds TSB Private Banking is a unit of Lloyds Banking Group Plc.

To contact the reporter on this story: Giles Broom in Zurich at gbroom@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer in London at arummer@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.