Barclays has announced its intentions to set up a new private bank booking centre in the Lion City.
Through the Singapore booking centre, Barclays Private Bank will offer clients a comprehensive wealth management offering, with the ability to book assets locally, according to a statement by the bank.
It will also use 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,” it said.
The new booking centre reinforces Barclays Private Bank’s commitment to expanding in Asia as it continues to provide specialist investment, banking, lending and wealth advisory services to its ultra high net worth clients and global family office (GFO) clients. The centre is expected to be operational by 2026
“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,” added Nitin Singh, head of Barclays Private Bank, Asia Pacific.
“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.
