Bank of Valletta, based in Malta, has announced a new strategic alliance with UK-headquartered Barclays Wealth, under a deal that will allow BOV clients to get to use the UK firm’s investment products and services not previously available onshore in the Mediterranean country.

The partnership means that BOV’s clients can get access to Barclays' proprietary funds (including the Global Beta range) and other services.

The agreement was signed by Tonio Depasquale, chief executive at Bank of Valletta, and Pete Horrell, managing director at Barclays Wealth.

“This alliance hits the sweet spot for the international intermediaries business, cementing a partnership with a well-established and highly-regarded financial institution in a market where Barclays does not have an onshore presence. We will be working closely with BOV to provide access not only to our funds, but to support and advice throughout the distribution process,” Horrell said.