Barclays Wealth Expands Global Wealth Advisory Platform With National U.S. Trust Company in Delaware

NEW YORK, Nov. 5, 2010 /PRNewswire/ -- Barclays Wealth, a leading wealth manager and advisor, is pleased to announce that it has opened a national U.S. trust company, based in Delaware: Barclays Wealth Trustees (U.S.), NA.

Leveraging the strength of its global Wealth Advisory business, the new U.S. trust business presents an important addition to Barclays Wealth's client service offering in the Americas. 

"This is an exciting time in our development and we are proud to be investing in the U.S. and expanding our global trust services proposition with the recent opening of a Delaware U.S. trust company," said Rob Withecombe, Managing Director and Head of Wealth Advisory globally for Barclays Wealth. "Trust and fiduciary services are a vital wealth management service for both our U.S. and non-U.S. clients, and this investment follows the addition of two further trust businesses in Asia over the past year."

Barclays Wealth Trustees (BWT) offers high net worth clients the ability to create U.S. trust and estate planning structures and choose jurisdiction in any of the 50 U.S. states. BWT can act as a trustee, co-trustee or agent in trust administration. The fiduciary services offered by BWT follow a disciplined asset allocation process that leverages the firm's research team and investment strategy. "Our U.S. trust platform offers the flexibility our clients need to meet the challenges common to high net worth individuals and families," said Claire Rosati, a Director at Barclays Wealth and President of Barclays Wealth Trustees.

Through its international trust services' offices worldwide – including the Cayman Islands, Geneva, Guernsey, Hong Kong, Jersey, Singapore, and the UK – Barclays Wealth offers clients access to fiduciary services in multiple jurisdictions.

"At Barclays Wealth, we seek to meet the growing complexity of our clients' situations, which frequently include family, businesses and assets spread across several countries," continued Withecombe. "Offering them a global, truly integrated advisory platform across wealth jurisdictions is critical to thoughtful succession planning and wealth structuring."

Barclays Wealth in the Americas has 14 offices, including its trust company office, and provides comprehensive wealth management to high net worth individuals and families. Neither Barclays Wealth nor its employees render tax or legal advice.

About Barclays Wealth

Barclays Wealth is a leading global wealth manager, and the UK's largest, with total client assets of $232 bn (154bn 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, brokerage and fiduciary services.

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.

Twitter page: www.twitter.com/barclayswealth

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