The UK-headquartered firm said Singapore is a "strategically important" location in Asia, referring to the ability to serve family offices and UHNW clients.

Barclays Private Bank, part of UK-listed Barclays, has made two senior hires in Singapore: Tom Road (main picture) and Wengmun Loh (see below). Both men are relocating to the Asian city-state from London.

The move also highlights how Barclays, while it sold private banking operations in parts of Asia to OCBC (parent of Bank of Singapore) in 2016, has to some extent changed course in more recent times. (Even after the OCBC deal, Barclays Private Bank did, however, retain its business in India, so it did keep an Asia presence.)

Road, who has been appointed as deputy head, Barclays Private Bank, Singapore, reports to Evonne Tan, head of Barclays Private Bank, Singapore. He will focus on meeting the needs of ultra-high net worth and global family offices in Singapore and driving forward what Barclays said are its “ambitious growth plans” in Singapore. 

Loh has been appointed head of dealing and derivatives, Barclays Private Bank, Singapore. He has been with Barclays since 2008 and was most recently head of UK Direct Access for the private bank in London. In his new Singapore-based role, will be responsible for building up the capital markets and trading capability of the firm. 

Loh reports locally to Ken Sze, head of investments Asia and functionally to Aurelien Callegari, global co-head of capital markets and head of structured products.

Road, who has been at Barclays for 13 years, was previously a senior lawyer at Linklaters, specialising in M&A for real estate clients, ranging from sovereign wealth funds and listed property companies to private investors.

Loh has more than 30 years’ trading experience across various asset classes including derivatives, foreign exchange, equities, and fixed income; having worked on the trading desks of HSBC, Société Générale, and Bloomberg LP. Previously, Loh was head of dealing, Barclays Wealth, Asia, responsible for the dealing and sales trading desks in Singapore, Hong Kong, and Mumbai.

“Singapore serves as a strategically important location for Barclays in Asia, where we have a robust client base and a unique proposition. These new appointments will strengthen our presence here and allow us to further meet the investment and banking needs of family offices and UHNW clients in the region,” Jean-Christophe Gerard, CEO, Barclays Private Bank and Wealth Management, said.