Barclays Private Bank to Setup Booking Centre in Singapore by 2026 Providing Clients with Comprehensive Wealth Offering & Ability to Book Assets in Singapore
26th November 2024 | Hong Kong
Barclays Private Bank has announced to setup a booking centre in Singapore by 2026, providing clients with comprehensive wealth offering & ability to book assets in Singapore. Barclays (26/11/24): “Barclays announces its plans to establish a new Private Bank booking centre in Singapore. 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 (UHNW) clients and global family office (GFO) clients. Through the Singapore booking centre, Barclays Private Bank will offer clients a comprehensive wealth management offering, with the ability to book assets locally. It will leverage 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. The new booking centre in Singapore is expected to be operational by 2026, bringing together a team of experienced and dedicated professionals focused on delivering the best of Barclays to its private banking clients.” In 2024 July, Barclays Head of Private Bank APAC Nitin Singh has been reported to be targeting to increase Assets under Management (AUM) by 4 times in 4 years by 2028, and to increase wealth team headcount in India & Singapore by 3 times. Barclays Group AUM is at $59 billion in 2023. Earlier in 2024 July, Barclays Private Bank hired ex-Citi & UBS executive Hussain Selani as Head of Investments India & Global Indians based in Mumbai (India). In 2024 June, Barclays Private Bank hired 2 Senior Portfolio Managers from Credit Suisse Asset Management, with Ong Shun Wei hired as Head of Discretionary Portfolio (DPM) Singapore and Stephen Zhu as Senior Portfolio Manager.
“ Barclays Private Bank to Setup Booking Centre in Singapore by 2026 Providing Clients with Comprehensive Wealth Offering & Ability to Book Assets in Singapore “
Sasha Wiggins, CEO, Barclays Private Bank & Wealth Management: “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, APAC: “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.”
Evonne Tan, Head of Barclays Private Bank, Singapore: “Asia is a very important market for Barclays Private Bank, and we have gone through a three-year journey of establishing our presence in Singapore. The announcement today is a testament to our long-term commitment to the region. 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.”
Barclays – Our vision is to be the UK-centred leader in global finance. We are a diversified bank with comprehensive UK consumer, corporate and wealth and private banking franchises, a leading investment bank and a strong, specialist US consumer bank. Through these five divisions, we are working together for a better financial future for our customers, clients, and communities.
Barclays in Asia Pacific – Barclays has been in Asia Pacific for over 50 years and primarily supports corporations and financial institutions across the Asia Pacific region, catering to their cross-border Investment Bank needs and connecting them to the capital markets of UK, Europe, and the Americas. The bank also has a growing Private Bank business in Asia Pacific, with operations in both India and Singapore. Barclays in Asia Pacific is headed by Jaideep Khanna, who also leads the bank’s Global Markets business in the region. Its regional Investment Banking business is led by Vanessa Koo and Nitin Singh heads its Asia Private Banking business.
Barclays Head of Private Bank APAC Nitin Singh to Increase AUM in Asia by 4 Times in 4 Years by 2028 & Increase Wealth Team Headcount in India & Singapore by 3 Times, Barclays Group AUM at $59 Billion in 2023
17th July 2024 – Barclays Head of Private Bank APAC Nitin Singh is targeting to increase Assets under Management (AUM) by 4 times in 4 years by 2028, and to increase wealth team headcount in India & Singapore by 3 times. Barclays Group AUM is at $59 billion in 2023. Earlier in 2024 July, Barclays Private Bank hired ex-Citi & UBS executive Hussain Selani as Head of Investments India & Global Indians based in Mumbai (India). In 2024 June, Barclays Private Bank hired 2 Senior Portfolio Managers from Credit Suisse Asset Management, with Ong Shun Wei hired as Head of Discretionary Portfolio (DPM) Singapore and Stephen Zhu as Senior Portfolio Manager.
Barclays Private Bank Hires ex-Citi & UBS Executive Hussain Selani as Head of Investments India & Global Indians, 21 Years of Financial Industry Experience Including at Citibank, UBS, DBS & Aditya Birla Capital, Founder & CEO of Corp Care Providing Investing & Financing Solutions to Corporates & Family Offices
12th July 2024 – Barclays Private Bank has hired ex-Citi & UBS executive Hussain Selani as Head of Investments India & Global Indians based in Mumbai (India). Hussain Selani has 21 years of financial industry experience including at Citibank, UBS, DBS & Aditya Birla Capital, and is the founder & CEO of Corp Care (Provides investing & financing solutions to corporates & family offices). Hussain Selani reports to Jean-Damien Marie (Barclays Global Head of Investments, Private Bank & Wealth Management), and to Nitin Singh (Head of Private Bank, APAC). Barclays Private Bank (2024 July): “Hussain Selani has joined Barclays as Managing Director, Head of Investments India and Global Indians. Based in Mumbai, Hussain will functionally report to Jean-Damien Marie, Global Head of Investments, Private Bank & Wealth Management and locally to Nitin Singh, Head of Private Bank, Asia Pacific. Hussain joins the bank after a long-standing career as the CEO of CorpCare Ventures Private Limited and was responsible for building an advisory business delivering investment and financing solutions to corporates and family offices. Prior to this, he has held many senior leadership roles across Citibank, UBS and most recently, responsibility for Investment Product & Research at Aditya Birla Finance. Hussain will be responsible for the management and distribution of all investment products and services (incl. Wealth Advisory) across Private Bank and Wealth Management India and Global Indians. In his capacity as Head of Investments for Global Indians, he will be responsible for building and driving the Global Indian investment proposition, along with strengthening the synergies of the Global Indian segment across Barclays platforms and corridors, ensuring a seamless client proposition and delivery.” In 2024 June, Barclays Private Bank hired 2 Senior Portfolio Managers from Credit Suisse Asset Management, with Ong Shun Wei hired as Head of Discretionary Portfolio (DPM) Singapore and Stephen Zhu as Senior Portfolio Manager.
Barclays Private Bank Hires 2 Senior Portfolio Managers from Credit Suisse Asset Management, Ong Shun Wei as Head of Discretionary Portfolio Singapore & Stephen Zhu as Senior Portfolio Manager
28th June 2024 – Barclays Private Bank has hired 2 Senior Portfolio Managers from Credit Suisse Asset Management, with Ong Shun Wei hired as Head of Discretionary Portfolio (DPM) Singapore and Stephen Zhu as Senior Portfolio Manager. Both Ong Shun Wei and Stephen Zhu will be part of the Global DPM team, reporting to Olivier Asselin, Global Co-Head of Investment Management for Barclays Private Bank & Wealth Management. Ong Shun Wei (Head of Discretionary Portfolio Singapore) – Ong Shun Wei joins from Credit Suisse Asset Management (CSAM), where he was a Senior Portfolio Manager for Asian and Emerging Market bonds and Lead Portfolio Manager for Singapore-booked discretionary mandates in the Fixed Income Asia team. He was also Head of Client Portfolio Management, overseeing the overall business development for the team. In his early career, he was a member of the Fixed Income team at Goldman Sachs Asset Management, leading a team of Portfolio Specialists covering Asian, Australian and Global Multi-Sector Fixed Income strategies. Shun Wei graduated with a Bachelor of Business Management degree from Singapore Management University and is a CFA Charter holder. Stephen Zhu (Senior Portfolio Manager) – Stephen Zhu was a Senior Portfolio Manager at Credit Suisse Asset Management (CSAM) Asia Fixed Income team, where he co-managed the Credit Suisse RMB Credit Bond Fund, as well as Asia and Emerging market focused fixed income mandates. Stephen also served as a key member of CSAM’s EM Investment Committee. Prior to that, Stephen was a Senior Credit Analyst at UBS Wealth Management Chief Investment Office, focusing on fundamental research of Asia Investment Grade and High Yield issuers. Stephen graduated with a Bachelor of Business Management from Singapore Management University and is a CFA Charter holder. Earlier in 2024 June, Barclays Private Bank hired JP Morgan 20-year veteran Ren Yi Sng as Senior Private Banker. Ren Yi Sng joins from JP Morgan after more than 20 years, with 19 years at JP Morgan Investment Bank and last held the role of JP Morgan Head of Private Client Advisory Asia (Providing investment banking solutions to family-owned corporates at JP Morgan Private Bank). In 2023, Barclays hired ex-HSBC senior executive Nitin Singh as Head of Private Bank Asia & India (18/9/23), a veteran banker with more than 20 years of experience including at HSBC (16 years), Standard Chartered Bank and as CEO of Avendus (Wealth Management).
Barclays Private Bank Hires JP Morgan 20-Year Veteran Ren Yi Sng as Senior Private Banker, 19 Years at JP Morgan Investment Bank and Last Held Role of JP Morgan Head of Private Client Advisory Asia
4th June 2024 – Barclays Private Bank has hired JP Morgan 20-year veteran Ren Yi Sng as Senior Private Banker. Ren Yi Sng joins from JP Morgan after more than 20 years, with 19 years at JP Morgan Investment Bank and last held the role of JP Morgan Head of Private Client Advisory Asia (Providing investment banking solutions to family-owned corporates at JP Morgan Private Bank). In 2023, Barclays hired ex-HSBC senior executive Nitin Singh as Head of Private Bank Asia & India (18/9/23), a veteran banker with more than 20 years of experience including at HSBC (16 years), Standard Chartered Bank and as CEO of Avendus (Wealth Management).
Barclays Private Bank Hires Ex-HSBC Senior Executive Nitin Singh as Head of Private Bank Asia & India, More than 20 Years of Experience Including at HSBC, Standard Chartered & as CEO of Avendus Wealth Management
6th July 2023 – Barclays has hired ex-HSBC senior executive Nitin Singh as Head of Private Bank Asia & India (18/9/23), a veteran banker with more than 20 years of experience including at HSBC (16 years), Standard Chartered Bank and as CEO of Avendus (Wealth Management) . Nitin Singh will report to Jean-Christophe Gerard (Barclays Private Bank CEO) and Jaideep Khanna (Barclays Asia-Pacific Head). Barclays Private Bank Head of Singapore Evonne Tan will report to Nitin Singh. Barclays CEO of Private Clients India Sandeep Das has also been reported to be leaving Barclays. In 2022, Barclays Private Bank has around $50 billion Assets under Management (Private Banking AUM in UK & Asia).
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