Barclays has appointed Steve Rickards as head of offshore funds.

Reporting directly to Paul Savery, managing director of personal and corporate banking in the Channel Islands, Rickards will take responsibility for creating and implementing the bank’s offshore funds strategy.

“Steve has 30 years’ experience with Barclays in corporate banking and international finance centres,” said Savery.

“The fund sector is an important and growing industry sector for the island economies that Barclays is committed to supporting.”

Rickards has headed up the Guernsey funds team over the last four years, providing debt solutions for private equity and working with locally based fund administrators.

“ offshore business has worked hand in hand with the funds team in London to bring the very best of Barclays to our clients, and Steve has been a real catalyst to driving this relationship from a Guernsey perspective,” said Savery.

Barclays’ clients have also welcomed the appointment. Barry McClay, chief operating officer at IPES, said: 

“Steve’s appointment is a confident step from Barclays and shows their support for the sector. An increased team, a strong strategy and improved focus on the sector will be beneficial to IPES and indeed the whole funds industry. It also shows the Bank’s long term commitment to the islands.”