The wealth and investment arm of the UK-listed banking group Barclays said it made an adjusted pre-tax profit of £60 million ($91.6 million) in the first three months of 2013, a 20 per cent rise from a year ago.

The wealth and investment arm of the UK-listed banking group Barclays – which recently announced top-level management changes – said it made an adjusted pre-tax profit of £60 million ($91.6 million) in the first three months of 2013, a 20 per cent rise from a year ago.

However, the first-quarter profit fell from £105 million in the previous three months to the end of December 2012, the bank said today in a statement.

The results come days after Barclays announced that Tom Kalaris was stepping down as chief executive of the wealth and investment business. Kalaris, along with Rich Ricci, CEO of the corporate and investment banking arm, were two of the remaining management team members who had worked with former group CEO Bob Diamond, who resigned from the bank last year in the wake of the LIBOR-rigging scandal that involved the bank, as well as a number of other institutions. Ricci has decided to retire on June 30.

Among other details, Barclays said that total income – net of insurance claims – at the wealth and investment business rose by 4 per cent in the quarter from a year earlier, standing at £469 million.

The cost/income ratio at the wealth and investment business was 85 per cent in the third quarter, compared with 87 per cent a year before.

Total client assets stood at £200.2 billion at the end of March, up from £186 billion at the end of December 2012, the firm said. The rise in assets was “driven by net new assets in the high net worth businesses and favorable market movements.”

For the banking group as a whole, it logged a pre-tax profit, on an adjusted basis, of £1.786 billion, a 25 per cent drop.

On the investment banking side of Barclays, adjusted and statutory pre-tax profit rose 11 per cent year-on-year to £1.315 billion.