Talal Shamel to support London bank's regional client-acquisition efforts. Last month Barclays Wealth made Talal Shamel managing director of its Middle East private-banking team. Shamel will report to Soha Nashaat head of Barclays overall wealth-management business in the oil-rich but geo-politically sensitive region.

Knows the region

"[Talal] has a superb track record in private banking and an in-depth understanding of Middle Eastern markets," says Nashaat. "[His] senior management experience is extensive and will add significant weight to our push to expand in the Middle East, [which we see] as a strong area for future growth for Barclays Wealth's international business."

The Middle East -- or more accurately the Persian Gulf area within in that region -- is one of the fastest-growing private-wealth markets in the world.

In 2005 the number of U.S.-dollar millionaires in the region increased 9.8% over 2004 levels to about 300,000, according to the most recent Capgemini and Merrill Lynch World Wealth Report. Total assets held by Middle East-based millionaires increased 19.7% to about $1.2 trillion. In contrast, North America and the Asian-Pacific region saw respective millionaire-population growth rates of 6.9% (to 2.9 million) and 7.3% (to 2.4 million) and respective millionaire-held asset growth of 9.4% (to $10.2 trillion) and 8.0% (to $7.6 trillion).

Shamel, formerly part of a London-based business-development team within Barclays' private-client group. Now he'll concentrate on supporting Barclays' efforts to bring in more high-net-worth and ultra-high-net-worth private-banking clients from the Middle East. -FWR

.