Barclays sets up subsidiary in Taiwan
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.”
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.