UK-headquartered lender Barclays has launched its private bank booking centre in Singapore, strengthening its ability to serve internationally connected ultra-high-net-worth ( UHNW ) clients and family offices from one of the world’s leading wealth hubs.
The centre, the bank notes, combines local booking capabilities in Singapore with connectivity to its 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.
The launch comes as wealth creation, investment activity and capital flows are becoming increasingly global. Client 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 – according McKinsey & Company’s Asia-Pacific’s family office boom: Opportunity knocks, September 2024, report – while an estimated US$5.8 trillion of wealth is set to transfer between generations across the region over the same period.
Together, these trends are increasing demand for sophisticated advice spanning investment financing, family governance, succession planning and cross-border wealth.
Singapore has long established itself as a leading centre for private wealth, attracting entrepreneurs, family offices and investors from across Asia and beyond. Its trusted institutions, international connectivity and deep financial expertise make it an important base for clients with interests spanning Asia-Pacific, the UK, Europe and the Middle East.
“As wealth becomes increasingly global, clients are looking for partners who can support them seamlessly across generations and jurisdictions,” says Sasha Wiggins, the lender’s private bank and wealth management CEO. “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.”
