Barclays Wealth has hired Douglas Lockhart as a portfolio manager for its investment/portfolio management team in Scotland, as part of an ongoing plan to grow in the country.

Lockhart was latterly a senior investment manager at Deutsche Bank Private Wealth Management, and has also worked for National Australia Bank and Tilney Investment Management. In his prior roles his responsibilities have included managing over $100 million of discretionary assets, according to Barclays Wealth.

In his new, Glasgow-based role he will report to Alastair Mackenzie, regional investment director.

The appointment demonstrates how Barclays Wealth is putting into action a plan laid out earlier this year to substantially grow its operations in Scotland through measures such as a raft of new appointments. When the plans were announced, it was said an additional 10 to 15 staff would be hired over a one-year period.

In other recent news, Barclays Wealth’s pre-tax profits rose by 27 per cent year-on-year to £95 million (around $151.5 million) in the six months to the end of June. Total client assets rose to £153.5 billion from £151.2 billion at the end of December 2009.