Barclays Wealth Hires Drews To Manage Ultra High Net Worth Clients

14th Jul 2010 17:02

DOW JONES NEWSWIRES Barclays Wealth, the wealth-management unit of Barclays PLC (BCS, BARC.LN), announced Wednesday it appointed Stefanie Drews to manage its ultra high net worth client group for the U.K. and Europe, the Middle East, and Africa regions. Drews joins the company from Morgan Stanley's (MS) wealth management division, where she worked for 13 years, mostly recently as a managing director in the EMEA region. The U.K. bank said Drews will be responsible for the continuing build-out of the ultra high net worth team, which works across the Barclays corporate, investment banking and wealth management business to offer banking and investment solutions to those clients. Barclays Wealth Chief Executive Thomas L. Kalaris said the appointment was significant, "particularly in the context of our growth plans over the course of the next five years." The appointment comes after Barclays in June named Steve Houston to head its network of branches and investment representatives in the Americas. Barclays has been building up its U.S. wealth-management business, which it acquired from Lehman Brothers Holdings Inc. (LEHMQ) following the collapse of the investment bank. Barclays' American depositary shares were recently up 0.4% to $19.11. -By John Kell, Dow Jones Newswires; 212-416-2480; [email protected] (END) Dow Jones Newswires July 14, 2010 12:02 ET (16:02 GMT)