The biggest threat to the expansion plans of Barclays Wealth is the scarcity of available talent. The group's chief executive, Tom Kalaris, needs that to deliver what he terms "private investment banking" and reach the top table of global wealth managers in the next five to eight years.

The wealth management arm of Barclays PLC, Barclays Wealth, had GBP151.2 billion of client assets at the end of last year. It aims to double that figure in five years, based on an injection of GBP350 million over the next few years -- twice the unit's normal investment run-rate.