UK-based Barclays has announced that it will establish a private banking booking center in Singapore.
Barclays will establish a new private banking booking center in Singapore which will be operational by 2026, according to a statement. It will also bring together a team of experienced and dedicated professionals to serve private banking clients in the city-state.
«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 center further strengthens our global proposition, allowing us to better serve our clients,» said Sasha Wiggins, CEO, Barclays Private Bank and Wealth Management.
Thee-Year Journey
After selling its Hong Kong and Singapore wealth business to OCBC in 2016, Barclays made a reentry to private banking in the latter hub in 2021. Its regional private banking head, Nitin Singh, is currently based in Mumbai.
«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,» Sing commented.
