Wealth manager and advisor Barclays Wealth announced Friday that it had opened Barclays Wealth Trustees (U.S.), NA, a new national U.S. trust company headquartered in Delaware.
Barclays Wealth Trustees, according to the company, will provide high-net-worth clients with “the ability to create U.S. trust and estate planning structures and choose jurisdiction in any of the 50 U.S. states.” It will also offer clients access to fiduciary services in multiple jurisdictions, including Hong Kong, Jersey, Guernsey, Singapore, the U.K. and Geneva, through the offices of Barclays Wealth’s international trust services worldwide.
Rob Withecombe, managing director and head of wealth advisory globally for Barclays Wealth, said in a statement, “At Barclays Wealth, we seek to meet the growing complexity of our clients' situations, which frequently include family, businesses and assets spread across several countries. Offering them a global, truly integrated advisory platform across wealth jurisdictions is critical to thoughtful succession planning and wealth structuring."
Barclays Wealth Trustees can serve as an agent in trust administration, a trustee, or a co-trustee, with its fiduciary services following “a disciplined asset allocation process that leverages the firm’s research team and investment strategy,” according to the company.
Claire Rosati, a director at Barclays Wealth and president of Barclays Wealth Trustees, said in a statement, “Our U.S. trust platform offers the flexibility our clients need to meet the challenges common to high-net-worth individuals and families.”
Withecombe added, "This is an exciting time in our development and we are proud to be investing in the U.S. and expanding our global trust services proposition with the recent opening of a Delaware U.S. trust company. Trust and fiduciary services are a vital wealth management service for both our U.S. and non-U.S. clients, and this investment follows the addition of two further trust businesses in Asia over the past year."