"We filled the vacancy the next day"
Barclays Wealth announces IT upgrade plans
Barclays Wealth is set to upgrade its IT programmes as part of a five-year plan announced by the bank.
Earlier this year, the business revealed it would be investing £230 million in its IT infrastructure, with a further £120 million to be spent on client-facing staff.
In its Q1 2010 interim management statement, released April 30th, Barclays said it expects to make the total £350 million investment incrementally over the next three years, with £100 million to be spent this year.
The statement also revealed a 50 per cent rise in profits for Barclays Wealth, taking its total profits to £45 million.
Chris Lucas, group finance director at Barclays, said the improved performance was helped by strong income growth in the high net worth business.
It is hoped the new IT platform will make the service more user-friendly and enable staff to set up accounts for new users more easily.
Barclays Wealth is the UK's largest global wealth manager, with total client assets of £151.2 billion, as at December 31st 2009.
By Leanne Thompson
Earlier this year, the business revealed it would be investing £230 million in its IT infrastructure, with a further £120 million to be spent on client-facing staff.
In its Q1 2010 interim management statement, released April 30th, Barclays said it expects to make the total £350 million investment incrementally over the next three years, with £100 million to be spent this year.
The statement also revealed a 50 per cent rise in profits for Barclays Wealth, taking its total profits to £45 million.
Chris Lucas, group finance director at Barclays, said the improved performance was helped by strong income growth in the high net worth business.
It is hoped the new IT platform will make the service more user-friendly and enable staff to set up accounts for new users more easily.
Barclays Wealth is the UK's largest global wealth manager, with total client assets of £151.2 billion, as at December 31st 2009.
By Leanne Thompson