Barclays Expands in Asia with New Private Bank Booking Centre in Singapore

Barclays Expands in Asia with New Private Bank Booking Centre in Singapore

(IN BRIEF) Barclays is establishing a Private Bank booking centre in Singapore, reinforcing its commitment to Asia as a key wealth hub. The centre, set to launch by 2026, will allow ultra-high-net-worth (UHNW) clients and global family offices (GFOs) to book assets locally while accessing a comprehensive suite of wealth management services. By leveraging its partnership with Barclays Investment Bank, the centre will deliver sophisticated investment solutions, enhancing cross-border capabilities. This move underscores Barclays’ strategy to capitalize on the region’s growing wealth market and strengthen its global wealth management proposition.

(PRESS RELEASE) LONDON, 27-Nov-2024 — /EuropaWire/ — Barclays has announced plans to establish a new Private Bank booking centre in Singapore, further solidifying its position as a leading wealth management provider in Asia. This move reinforces the bank’s commitment to supporting ultra-high-net-worth (UHNW) clients and global family offices (GFOs) in one of the world’s fastest-growing wealth markets.

Expanding Services for Regional and International Clients

The new booking centre will enable Barclays Private Bank to provide a comprehensive wealth management solution, allowing clients to book assets locally while accessing an integrated suite of services. Leveraging its partnership with Barclays Investment Bank, the centre will deliver sophisticated financial products and cross-asset class offerings, ensuring a seamless ‘one-bank’ experience.

Sasha Wiggins, CEO of Barclays Private Bank and Wealth Management, highlighted the significance of the investment: “Asia Pacific is a key region for wealth growth, and our strategic investment in Singapore enhances our global proposition, enabling us to better serve our clients in the region.”

Positioning for Regional Growth

The Singapore booking centre represents a milestone in Barclays’ long-term strategy to capture global and regional wealth inflows. Nitin Singh, Head of Barclays Private Bank, Asia Pacific, commented, “This expansion enhances our banker coverage and product capabilities in the region, complementing our market-leading franchises in the UK and India, and enabling us to deliver cross-border wealth solutions to international clients.”

Commitment to Singapore and Asia

Barclays’ three-year journey to establish a strong foothold in Singapore culminates in this announcement, reflecting the bank’s dedication to the region. Evonne Tan, Head of Barclays Private Bank, Singapore, noted, “The new booking centre not only strengthens our operational capabilities but also broadens the range of products and services we can offer our clients. It is a testament to our long-term commitment to Singapore as a key wealth hub.”

Operational by 2026

Set to be operational by 2026, the new Singapore booking centre will be staffed by a team of experienced professionals dedicated to delivering tailored wealth management solutions. This development underscores Barclays’ ambition to remain a trusted partner for UHNW clients and family offices in Asia and beyond.

Notes for Editors

About Barclays
Our vision is to be the UK-centred leader in global finance. We are a diversified bank with comprehensive UK consumer, corporate and wealth and private banking franchises, a leading investment bank and a strong, specialist US consumer bank. Through these five divisions, we are working together for a better financial future for our customers, clients, and communities.

About Barclays in Asia Pacific
Barclays has been in Asia Pacific for over 50 years and primarily supports corporations and financial institutions across the Asia Pacific region, catering to their cross-border Investment Bank needs and connecting them to the capital markets of UK, Europe, and the Americas. The bank also has a growing Private Bank business in Asia Pacific, with operations in both India and Singapore. Barclays in Asia Pacific is headed by Jaideep Khanna, who also leads the bank’s Global Markets business in the region. Its regional Investment Banking business is led by Vanessa Koo and Nitin Singh heads its Asia Private Banking business.

Media Contact:

Tel: 0345 7345345
Email: ukpressoffice@barclays.com

SOURCE: Barclays