According to the firm, it has seen a “four-fold” increase in appetite among its Greater China clients, prompting plans to more than double its assets in the region over the next three years.
Pakorn Boonya-kurkul, the head of North Asia at Barclays Wealth, said: “Hong Kong continues to be a key centre for us, while there is a strategic rationale for establishing a Greater China desk in Singapore to complement our well established presence in Hong Kong.
“This presents us the platforms for offering Greater China clients with choices for doing business with a Hong-Kong based or Singapore-based wealth manager. At the same time, it provides us the opportunity to tap on the deep private banking talent pool in both financial centres.”
About half of Barclays Wealth bankers in Hong Kong are managing directors or directors – the two most senior levels – and it intends to continue making senior appointments, he added.
Barclays Wealth has offices in over 20 countries, and had total client assets of £170bn ($270bn) at the end of June. The firm focuses on private and intermediary clients, providing international and private banking, investment management, fiduciary services and brokerage.
