Barclays Wealth keeps hiring, snags team from Neuberger Berman

Barclays Wealth, the $241 billion wealth management unit of Barclays Bank PLC, has snapped up a team of advisers from Neuberger Berman LLC, the company announced Wednesday. As part of its bid to expand its wealth management business in the U.S. and the Americas this year, Barclays has hired Preston McSwain to be managing director and investment representative in its Boston office, according to a release. Mr. McSwain brings with him a team of four people — all from Neuberger Berman — and he will report to Marty Courage, managing director, Boston branch manager and New England regional manager. Mr. McSwain has 20 years' experience in the private-asset-management and institutional investment management field. At Barclays, he will advise high-net-worth clients and will be responsible for many of the firm's largest relationships in New England. Barclays is “excited to have a team like Mr. McSwain's on board, one which clearly shares our commitment to this market,” Jack Petersen, head of Barclay's wealth management unit for the Americas. Barclays hired 50 investment representatives in 2009 and is adding more than 100 this year. Barclays currently has 13 offices throughout the U.S. and the Americas.