Barclays has been granted a Financial Advisory and Intermediary Services (FAIS) license by the Financial Sector Conduct Authority (FSCA) in South Africa. As a result, Barclays Bank PLC bankers will now be able to proactively reach out to and meet individuals in South Africa, to offer the advisory and discretionary products and services offered by Barclays Private Bank.
“We are excited that this licence will allow the Private Bank to service individual clients in South Africa, including the delivery of tailored investment solutions to meet the specific and complex needs of Family Offices and (U)HNWI, while also complementing our existing Investment and Corporate Banking businesses,” Amol Prabhu, Africa Market Head, Barclays Private Bank said.
Amol Prabhu, newly appointed Africa Market Head for the Private Bank will have regulatory accountability for the Africa businesses. Based in Johannesburg, Mr Prabhu has held several roles for Barclays during the past 15-years, most recently leading the establishment of Barclays Investment and Corporate Banking services in Africa.
By leveraging collaboration between Barclays Private Bank, a leading Investment House providing banking and investments services and solutions to Family Offices and (Ultra) High Net Worth Individuals, and Barclays Corporate and Investment Bank, Mr Prabhu will play a key role in the delivery of the full spectrum of the Bank´s capabilities for African clients seeking global and offshore solutions.
“We consider South Africa and the wider African continent to be an exciting growth market for the Private Bank and are pleased to be able to provide our first class global services to Affluent, High Net Worth and Ultra High Net Worth Individuals in the region, whilst also connecting them to the broader Barclays offering. We also look forward to servicing our clients seeking offshore solutions,” Salman Haider, Head of Global Growth Markets, Barclays Private Bank said.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.