Barclays today announced the launch of its Private Bank booking centre in Singapore, strengthening its ability to serve internationally connected ultra-high-net-worth (UHNW) clients and family offices.  

The centre combines local booking capabilities in Singapore with connectivity to Barclays’ international booking centres, allowing clients to access banking, lending, investments and wealth planning services seamlessly. Through its “one Barclays model”, clients can benefit from the combined strengths of the Private Bank and the corporate and investment banks, bringing together global expertise, financing capabilities and market access to support their wealth ambitions, according to a statement by Barclays.

The launch comes as wealth creation, investment activity and capital flows are becoming increasingly global, it said. Clients are seeking greater connectivity across markets, asset classes and jurisdictions, alongside advice that reflects the complexity of their personal, business and family interests.

Asia Pacific is expected to become the world’s largest wealth market by 2030, while an estimated $5.8trn of wealth is set to transfer between generations across the region over the same period, according to a recent McKinsey report.

Sasha Wiggins, CEO, Barclays Private Bank and Wealth Management, said: “The launch of our Singapore booking centre marks an important milestone in delivering our growth strategy, it enables us to bring the full breadth of Barclays’ expertise to our clients, and reflects our investment in key international wealth markets.”

“As wealth becomes increasingly global, clients are looking for partners who can support them seamlessly across generations and jurisdictions. Singapore is one of the world’s leading wealth hubs, and this investment strengthens our ability to serve internationally connected clients while reinforcing our long-term commitment to Asia Pacific.”

Annabelle Bryde, head of Barclays Private Bank International, added: “The new platform makes it easier for clients to access the full breadth of Barclays’ capabilities through one integrated team.

Alexander Harrison, country CEO, Singapore, and interim head of Private Bank Singapore, Barclays, said: “The launch of our booking centre reflects Barclays’ long-term commitment to the market and our ambition to serve increasingly international client needs.”