DBT Bureau
Pune, 28 Nov 2024
Barclays has reported plans to open a new Private Bank booking centre in Singapore. This move highlights Barclays Private Bank’s ongoing commitment to expanding its presence in Asia, as it continues to offer specialized investment, banking, lending, and wealth advisory services to ultra-high-net-worth (UHNW) individuals and global family office (GFO) clients.
Through the Singapore booking centre, Barclays Private Bank will offer clients a comprehensive wealth management offering, with the ability to book assets locally. It will leverage its partnership with Barclays Investment Bank to deliver an integrated ‘one-bank’ proposition that will provide clients with quasi-institutional investment solutions, including access to more sophisticated financial products and cross-asset class offerings.
“Asia Pacific is one of the fastest growing wealth markets, and this strategic investment in Singapore underscores our commitment to expand in the region. Establishing the new booking centre further strengthens our global proposition, allowing us to better serve our clients,” said Sasha Wiggins, CEO, Barclays Private Bank and Wealth Management.
“We are focused on meeting the needs of our international clients in the region with enhanced banker coverage and product capabilities. This investment in Singapore, combined with our market-leading UK and Indian franchises, positions us to strategically capture strong global and regional inflows while enhancing our ability to offer seamless cross-border wealth management solutions,” said Nitin Singh, Head of Barclays Private Bank, Asia Pacific.
“Asia is a very important market for Barclays Private Bank, and we have gone through a three-year journey of establishing our presence in Singapore. The announcement today is a testament to our long-term commitment to the region. This centre will not only strengthen our operational capabilities but will also allow us to offer our clients a greater range of wealth management products and services,” said Evonne Tan, Head of Barclays Private Bank, Singapore.
The new booking centre in Singapore is expected to be operational by 2026, bringing together a team of experienced and dedicated professionals focused on delivering the best of Barclays to its private banking clients.
