Barclays PLC on Tuesday said it plans to establish a new private banking booking centre in Singapore.
The London-based bank said the city state is a ‘key wealth hub for Barclays Private Bank’, with the centre aimed at supporting its growth of Asian ultra-high-net-worth and global family office clientele.
Barclays expects the new booking centre to be operational by 2026.
Via the Singapore booking centre, Barclays Private Bank will offer comprehensive wealth management offering with the ability to book assets locally.
‘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, chief executive officer of Barclays Private Bank & Wealth Management.
Nitin Singh, head of Barclays Private Bank, 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, 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.’
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