The desk will be manned by a team of Israelis formerly with Credit Suisse.
Sources inform "Globes" that Barclays Bank is opening a private banking service for Israelis, based in Switzerland. Barclays has appointed Amit Ben Sira to head the new Israel desk, manned by Israelis.
Ben Sira was previously a manager in the private banking and wealth management division of Credit Suisse in Zurich, responsible for Israel and Central Europe. The other members of the team are Ehud Goren and Shahar Orbach. Goren worked in private banking at Credit Suisse, and before that at HSBC, while Orbach's background is at Credit Suisse and Citi. Mor Chasson has joined the team as investment advisor. He was previously an investment advisor at Credit Suisse in Zurich and at UBS Wealth Management in Israel.
Barclays Switzerland offers services only to Israelis classed as qualified clients under Israeli law, that is, clients to whom investment advice may be offered without the service provider being licensed by the Israel Securities Authority. Such clients must fulfill criteria of amount of liquid assets, investment expertise, and quarterly transaction volume.
Published by Globes, Israel business news - en.globes.co.il - on November 4, 2019
© Copyright of Globes Publisher Itonut (1983) Ltd. 2019
Barclays Bank photo: Reuters