Barclays in the Americas

David Chambers, also a Director at Barclays Wealth, brings to his new role more than three decades of experience

Barclays Wealth Trustees (U.S.), N.A., a Delaware-based national trust company, is pleased to announce that it has named David Chambers as President. As an affiliate of Barclays Wealth and part of a global network of Barclays trust institutions under its Wealth Advisory umbrella, Barclays Wealth Trustees provides high net worth clients with fiduciary, administrative and investment management services to help them secure their legacy.

Mr. Chambers, who is also a Director at Barclays Wealth, brings to his new role more than three decades of experience in many aspects of trust services including investment management, operations, and business development both in the U.S. and internationally. He will be responsible for managing the trust company as it continues to grow.

"We are pleased to have as President of Barclays Wealth Trustees a professional of David's stature and deep experience," said Rob Withecombe, Head of Wealth Advisory globally for Barclays Wealth. "This is an exciting time in our development as trust and fiduciary services are a vital wealth management capability for both our U.S. and non-U.S. clients. When it opened in early 2010, Barclays Wealth Trustees represented the 10th jurisdiction in our global trust services proposition."

Mr. Chambers previously held several senior trust roles including founder of a Florida state-chartered trust company, executive vice president at Bryn Mawr Trust Company in Pennsylvania, and chief operating officer at Bessemer Trust Company in New York as well as head of both Personal Trust Services and International Trust Services at Merrill Lynch. Over the course of his 12 years at Merrill Lynch, Mr. Chambers led many aspects of the firm's fiduciary business, establishing its international trust services and chartering a Federal Savings Bank that permitted that firm to offer fiduciary services in all 50 U.S. states. His responsibilities at Merrill Lynch included chairman and CEO of Merrill Lynch Trust Company FSB; chairman of the trust committee for six related legal entities; and president and CEO of both Merrill Lynch Trust Company (Cayman) Ltd, and Merrill Lynch Trust Company (Jersey) Ltd.

The fiduciary services offered by Barclays Wealth Trustees assist Barclays Wealth Investment Representatives in providing comprehensive wealth management to their ultra high net worth clients. Through BWT, clients have the ability to create a Delaware-based trust and estat planning structure in any of the 50 U.S. states.

Through Barclays affiliated trust companies worldwide - including the Cayman Islands, Geneva, Guernsey, the Isle of Man, Hong Kong, Jersey, Singapore, India, and the United Kingdom - Barclays Wealth offers access to fiduciary services in many favorable jurisdictions.

"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," continued Withecombe. "Offering them a global, truly integrated advisory platform across wealth jurisdictions is critical to thoughtful succession planning and wealth structuring."

"Our Delaware-based trust platform offers the flexibility Barclays Wealth clients need to meet the challenges common to high net worth individuals and families," said Mitch Cox, Head of Barclays Wealth in the Americas.

Barclays Wealth has 13 offices in the Americas, including its trust company office, and provides comprehensive wealth management to high net worth individuals and families. Neither Barclays Wealth nor its employees render tax or legal advice.

For further information contact:

Jignasa Patel, Barclays Wealth, Media Relations
+1 212 526 3945