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Private banking: Barclays seeks out mega-rich

Tom Kalaris has built Barclays Wealth into a global franchise by serving super-affluent and high-net-worth individuals. Now he’s aiming at the seriously wealthy. Peter Lee reports.

Thomas Kalaris, chief executive of Barclays Wealth

"This is exactly the kind of environment which, if you’re in building mode, can be highly advantageous"

Tom Kalaris

BARCLAYS WEALTH IS one of the success stories of the past three years. Assembled from a ragbag of financial advisers and stockbrokers previously scattered across several divisions of the old Barclays, the private banking business has grown rapidly as the high-achieving little sister to Barclays Capital and Barclays Global Investors (BGI) inside the bank’s investment banking and investment management division.

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