Barclays Wealth has opened an office in Rome, its second office in Italy, as it looks to expand its market presence in the country.

Barclays Wealth, the private client arm of UK-listed bank Barclays, is opening a new office in Rome, its second office in Italy.

The new office, which Barclays Wealth shares with Barclays Capital, Barclays’ investment banking arm, will target ultra high net worth individuals in Rome as well as central/southern Italy, the bank said.

“The opening of the Rome office, will give us the opportunity to develop our business throughout central and southern Italy,” said Daniele Bokun, managing director of Barclays Wealth Italy.

“Barclays Wealth firmly believes in the Italian market, which has, within the European context, a considerable and stable growth potential."

Emmanuel Fievet, head of international private bank, Barclays Wealth, said that this opening represents an important step towards the firm’s ambitious growth plans in Italy.

Barclays Wealth has had a presence in Italy since 2003 through its Milan branch. Under the leadership of Bokun, the Italian business offers clients asset management, lending and advisory services.