Barclays reveals expansion plans for Dublin

Barclays has revealed major expansion plans for Dublin, with ambitions to double headcount here to 300 by the end of next year and find more Irish clients.

The bank has made Dublin a new hub for Irish operations after the Brexit vote.

It wants to grow its business here, providing banking for large companies and wealthy individuals.

But the bank is not looking to go into the retail banking market – ie providing everyday services like current accounts or mortgages.

Barclays Bank Ireland chief executive Kevin Wall said: “The attractive fundamentals of the Irish economy, along with the scale and ambition of indigenous corporates, means that we are in a strong position to grow our presence in the Irish market further.

“We intend to build significantly on the successful platform that we have built up over the past 40 years by strongly pursuing opportunities to grow the business, providing a wide range of banking services to large corporate entities and advisory services to private banking management clients.”

The private banking arm – set to be fully up and running here next year –  is designed to service high-net-worth individuals, family investment companies, entrepreneurs and pension funds. 

“The private bank provides customised banking and credit solutions as well as offering a range of tailored and exclusive investment opportunities,” Barclays said.