Barclays

Barclays Wealth announces new agreement with Bank of Valletta, a leading financial services provider in Malta

Barclays Wealth, a leading global wealth management firm, has announced a new strategic alliance with Bank of Valletta (BOV), a leading financial services provider in Malta. As part of this agreement, BOV clients will be able to access a range of Barclays Wealth investment solutions and services which were previously not available onshore in Malta.

This is an initiative driven by Barclays Wealth's international third party distribution (TPD) business, which looks for opportunities to form alliances with financial institutions and provide their clients access to Barclays proprietary funds (including the Global Beta range of funds) and other services and solutions. Barclays Wealth has chosen to ally itself with BOV because of its size, its reach within Malta and its reputation for professionalism and excellence in client care.

Commenting on the venture, Sabrina del Prete, Head of Strategic Partnerships and International Third Party Distribution, said:

"This alliance hits the sweet spot for the international TPD business, cementing a relationship with a well established and highly regarded financial institution in a market where Barclays does not have an onshore presence. We will be working closely with BOV to provide access not only to our funds, but to support and advice throughout the distribution process."

Tonio Depasquale, CEO at Bank of Valletta added: "Through this agreement, Bank of Valletta customers will benefit from Barclays Wealth's expert support and specialists in the market sector through BOV's team of financial advisors. Bank of Valletta and Barclays Wealth will work closely with our investors to understand their specific requirements, help them select the right products and services and connect them to the wider range of financial support and expertise available from across the Barclays Group."

A joint event was held on November 22nd, at which BOV clients heard from Barclays Wealth's Head of Global Investment Strategy, Kevin Gardiner, about the current macro-economic trends facing the global economy. Kevin will today speak to a select group of BOV’s intermediary clients.

For further information contact:

Will Bowen, Barclays Wealth, Corporate Communications
+44 (0)20 3134 7744