Barclays Wealth to hire 20 more advisors

Unfazed by the downturn, wealth manager Barclays Wealth is planning to recruit 20 more client advisors taking total number of staff to over 100 by the end of May this year.

"We have fairly decent presence in term of branches but we are going to increase our client advisor strength to 100 plus with in three months," Barclays Wealth India Chief Executive S N Bansal told PTI here.

Started operation in November last year, the wealth manager have staff strength of 80 spread across five cities including New Delhi, Mumbai, Chennai, Kolkata and Bangalore.

The market of wealth management for high networth individual and ultra high networth people is still evolving and there is lot to be done even in this environment, he said.

During uncertain time, people are fairly open to discuss investment and are in look out for more expert advise for protection of wealth, he said.

Exuding confidence in its USP, the wealth manager aims to become top three players in terms of assets by 2012.

"Barclays Wealth would be top three players in the next three years," he said.

Speaking about global survey titled 'Family business well placed to survive the downturn', Bansal said that closely held family businesses have certain key attributes that would help them survive the crisis.