The new centre will allow Barclays Private Bank to offer an integrated “one-bank” service by partnering with Barclays Investment Bank. Credit: Barclays.

British banking group Barclays has unveiled plans to launch a new private bank booking centre in Singapore, expanding its presence in Asia.

This move aims to enhance its services for ultra-high-net-worth and global family office clients by offering comprehensive wealth management solutions.

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Due to start operations by 2026, the new Singapore centre will support local asset booking for affluent clients.

The centre will enable Barclays Private Bank to provide an integrated ‘one-bank’ proposition, tapping its collaboration with Barclays Investment Bank.

Clients will gain access to quasi-institutional investment solutions and cross-asset class offerings.

The Singapore centre will accommodate experienced professionals to deliver Barclays’ private banking services.

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The latest announcement comes eight years following Barclays’ sale of its wealth and investment management operations in Singapore and Hong Kong to OCBC unit Bank of Singapore.

Barclays Private Bank and Wealth Management CEO Sasha Wiggins said: “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.”

Barclays’s Asia Pacific arm is led by Jaideep Khanna, head of global markets, with Vanessa Koo heading investment banking and Nitin Singh leading Asia Private Banking.

Nitin Singh said: “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.”

Meanwhile, last month, Barclays appointed Mo Syed as the head of UK private bank and wealth management, subject to regulatory approval.