Barclays has announced plans to open a new Private Bank booking center in Singapore. This move is part of Barclays Private Bank's strategy to expand its presence in Asia, providing investment, banking, lending, and wealth advisory services to ultra-high-net-worth clients and global family offices.
The Singapore booking center will enable clients to manage their assets locally while benefiting from Barclays' partnership with its Investment Bank. This collaboration aims to offer quasi-institutional investment solutions, including sophisticated financial products and cross-asset class offerings.
Sasha Wiggins, CEO of Barclays Private Bank and Wealth Management, stated: "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."
Nitin Singh, Head of Barclays Private Bank for Asia Pacific, added: "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...positions us to strategically capture strong global and regional inflows."
Evonne Tan, Head of Barclays Private Bank in Singapore said: "Asia is a very important market for Barclays Private Bank...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."
The booking center is expected to be operational by 2026. It will bring together experienced professionals dedicated to delivering high-quality private banking services.
Barclays has been operating in Asia Pacific for over 50 years. The bank supports corporations and financial institutions across the region with cross-border Investment Banking needs while connecting them with capital markets globally.