Barclays Wealth

Some of the UK's biggest wealth managers are turning positive on emerging markets as months of poor performance and outflows begin to reverse.

Barclays Wealth has acted to cut its services for clients with less than £500,000, as it implements plans revealed last year.

BlackRock's ETF platform iShares has appointed Tom Fekete from Barclays Wealth as head of product development in Europe, Middle East and Africa (EMEA).

Kleinwort Benson has hired Fadi Zaher from Barclays Wealth & Investment Management as head of bonds and currencies.

Barclays is at the centre of further scandal after a senior executive quit following revelations he shredded a report which said part of the bank was "out of control".

Barclays has appointed Rory Tobin, former head of iShares International, to work on reviewing the group's asset management arm.

Barclays wealth arm is in talks with the regulator about charging asset managers administration fees when their funds are recommended for private client portfolios.

L&G Investments is set to merge four funds it formerly managed for Barclays Wealth and Investment Management into existing in-house portfolios.

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