Barclays Hires to Boost Alternative Investments

(Reuters) – Barclays Plc’s (BARC.L) wealth management arm is boosting its alternative investments business with two senior hires to its private equity and hedge funds divisions, as part of its aggressive global expansion plan.

Barclays recently launched an investment and hiring surge aimed at jump starting its ambitions to join the top tier of global wealth managers. 

Boudewijn Jansen will join the group as head of private equity origination from HSBC Private Bank (HSBA.L), where he was global head of private equity in the alternative investments division, the company said.

Sarah Newman will be head of hedge fund origination after 14 years working in equity derivatives and fund linked products business at Credit Suisse (CSGN.VX) and previously JP Morgan (JPM.N) and BNP Paribas.(BNPP.PA)

Originators are responsible for identifying investment opportunities that bankers then offer to Barclays’ clients.

Both will report to Thomas Fekete, the head of investment products for Europe, the Middle East and Africa.

“The talent we have been able to attract and will continue to attract is evidence of the aspirations we have to grow and enhance our proposition,” Fekete said in a statement.

Barclays Wealth has 151.3 billion pounds ($241.5 billion) in assets but will need to exceed $775 billion in order to overtake Credit Suisse and enter the list of top five global private banks, according to figures from consultancy the Scorpio Partnership.

Barclays also said on Wednesday it had hired two new bankers to its alternative investments sales team.

Jamie Murray will head of the Alternative Investments Distribution team, leaving a post at public relations firm Broadgate Mainland and Emily Smart, coming from UBS, will join as a hedge fund specialist, reporting to Murray. ($1=.6265 Pound) (Reporting by Chris Vellacott; Editing by Karen Foster)