Barclays establishes subsidiary in Taiwan
Taipei, 20 July, 2022 – Barclays announced today that it has received the approval from the Securities and Futures Bureau (SFB), the Financial Supervisory Commission (FSC) and the Ministry of Economic Affairs (MoEA) in Taiwan to establish a subsidiary, providing brokerage and underwriting services to the firm’s global and Taiwanese corporate and institutional clients.
Taiwan is a strategically important market for Barclays’ Asia Pacific. Through the establishment of the wholly-owned subsidiary, called Barclays Securities Taiwan Ltd (BSTL), the firm aims to leverage its global Corporate and Investment Bank (CIB) expertise and footprint to provide clients access to key regional and global capital markets, as well as cross-border investment opportunities.
Subject to obtaining the relevant licensing approval, BSTL is expected to be fully operational in Q3 2022. It will be led by Shella Wang, currently Head of Macro Distribution, North Asia, who has also been appointed as Chairman of the subsidiary.
“The buildout of our platform in Taiwan demonstrates our commitment to growing our Asia Pacific franchise,” said Jaideep Khanna, Head of Barclays, Asia Pacific. “The Taiwan subsidiary will enable us to further engage with our Taiwanese institutional clients and help them gain access to our suite of world class corporate and investment bank product offerings and solutions.”
“The onshore subsidiary will further seize growth opportunities in Environmental, Social, and Governance (ESG)-linked financing and investment, as well as the Formosa market in Taiwan,” added Ms. Wang. “Over the years, we have demonstrated our strength in our cross-asset product business and have been building a strong pipeline with our Taiwanese clients. Today’s announcement marks the firm’s commitment to deepening our client reach and investment in this market.”
In recent years, Barclays has been actively expanding its presence in key markets in Asia Pacific, including Australia, China/Hong Kong SAR, India, Japan and Singapore. Most recently, the firm was granted license to operate as a foreign authorised deposit-taking institution (ADI) in Australia.
Notes for Editors
Barclays has been in Asia Pacific for over 50 years and primarily supports corporations and financial institutions across the Asia Pacific region, catering to their cross-border Corporate and Investment banking needs and connecting them to the capital markets of UK, Europe and the Americas. Barclays in Asia Pacific is headed by Jaideep Khanna; its regional Investment Banking, Global Markets and Corporate Banking business is respectively led by Vanessa Koo, Hossein Zaimi, and Pushkaraj Gumaste.
Recent key hires and development at Barclays in Asia Pacific
· May 2022: Hossein Zaimi, Head of Markets for Asia Pacific
· Mar 2022: Matt Pecot to retire; Anthony Davies appointed interim Head of Markets for APAC
· Mar 2022: Carrie Chen and Raymond Yu: Co-Head of Investment Banking, Greater China
· Feb 2022: Pushkaraj Gumaste, Head of Corporate Banking, Asia Pacific and Middle East
· Jan 2022: Duncan Beattie and Duncan Connellan, Managing Directors, Investment Banking in Australia
· Dec 2021: Barclays granted license to operate as a foreign ADI in Australia
· Oct 2021: Angela Liu, Country CEO, China
· Aug 2021: Barclays Bank infuses over Rs. 3,000 crore capital to grow India operations
· Aug 2021: Grace Kuo, Shanghai Branch Manager
· Aug 2021: Mani Joseph, Head of Asia Special Situations, Credit
· Jul 2021: Evonne Tan, Head of Barclays Private Bank, Singapore
· Jun 2021: Ee-Ching Tay, Head of Investment Banking, Southeast Asia
· May 2021: Girish Mithran, Head of Program Trading, Asia
· Mar 2021: Yehong Ji, Vice Chairman, Banking, Greater China
· Mar 2021: Kelvin Teo, Head of Equity Capital Markets, Asia Pacific
· Sep 2020: Barclays makes strategic investment in Australia