Wealth Management Trends and Challenges II. Wayne Stalley Prague, November 2008

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1 Wealth Management Trends and Challenges II Wayne Stalley Prague, November 2008

2 Why Gibraltar? Legal and regulation People 2

3 Legal and Regulation Reputation IMF and wider Legal Regulatory Professionals and institutions Cross border 3

4 People First class finance centre Work force - continuity Size Flexibility Attractive for entrepreneurs 4

5 Clients and Intermediaries near and far Finance Sector 9bn+ client and 7bn+ third party funds Local and non resident investment services Bank, trust companies, lawyers, accountants worldwide Entrepreneurs and professional residents in region Property : mortgages for Iberia and further afield Jets,yachts, leasing, fuel hedging, syndications European accountants, lawyers and banks have a Gibraltar connection 5

6 Professional Bodies Gibraltar Finance Centre Council Gibraltar Bankers Association Gibraltar Society of Chartered and Certified Accountancy bodies General Counsel of the Bar Gibraltar Association of stockbroker and Investment Managers Association of trust and Company Managers Society of Trust and Estate Practitoners 6

7 Fiscal Environment No VAT or sales taxes No capital gains No wealth tax No IHT No gift taxes No estate duty No stamp duties on securities Cat 2 status Standards closely aligned to EU and UK 7

8 Business Growth Growing entrepreneur population Spain and Portugal Close links to UK, Ireland and Switzerland EIF s, Fund Managers and Fund Administrators UHNWI family asset managers On-line gaming, insurance, tourism, oil bunkering 8

9 Future Competition will improve Gibraltar further Constant focus on regulation and fiscal environment Continued growth Come and see for yourself 9

10 Disclaimer This document has been issued and approved by Barclays Bank PLC. Although information in this document has been obtained from sources believed to be reliable, we do not represent or warrant its accuracy, and such information may be incomplete or condensed. This document does not constitute a prospectus, offer, invitation or solicitation to buy or sell securities and is not intended to provide the sole basis for any evaluation of the securities or any other instrument, which may be discussed in it. All estimates and opinions included in this document constitute our judgement as of the date of the document and may be subject to change without notice. This document is not a personal recommendation and you should consider whether you can rely upon any opinion or statement contained in this document without seeking further advice tailored for your own circumstances. This document is confidential and is being submitted to selected recipients only. It may not be reproduced or disclosed (in whole or in part) to any other person without our prior written permission. Law or regulation in certain countries may restrict the manner of distribution of this document and persons who come into possession of this document are required to inform themselves of and observe such restrictions. We or our affiliates may have acted upon or have made use of material in this document prior to its publication. You should seek advice concerning any impact this investment may have on your personal tax position from your own tax adviser. Barclays Wealth is the wealth management division of Barclays and operates through Barclays Bank PLC and its subsidiaries. Barclays Bank PLC is registered in England and authorised and regulated by the Financial Services Authority. Registered number is and its registered office is 1 Churchill Place, London E14 5HP. Barclays Bank PLC All rights reserved. Issued for companies including Barclays Bank PLC (Reg. No ), Barclays Stockbrokers Limited (Reg. No ), a member of the London Stock Exchange and PLUS, Barclays Sharedealing (Reg. No ), Barclays Bank Trust Company Limited (Reg. No ) and Gerrard Investment Management Limited (Reg No ), a member of the London Stock Exchange. All of these companies are registered in England and have their registered office at: 1 Churchill Place, London E14 5HP. All of these firms are authorised and regulated by the Financial Services Authority. 10

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