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Barclays Steps Up Asia Private Banking Game

Tom Burroughes

12 July 2021

was made. We wanted to consider tapping Asia’s markets with a different proposition to that which we had in 2016,” Penny said. 

“Asia is forecast to experience the fastest growth in any region over the next decade. Singapore continues to be an important jurisdiction in the institutional space,” he continued. 
Tan will work alongside the existing Asia coverage team in London, looking after UHNW clients. She will focus on collaboration between the private bank, corporate and investment banking sides of Barclays, he said. 

For the moment, Barclays is concentrating on Singapore but will “have an eye on the broader region,” he continued. 

Asked about past changes at Barclays, Penny said the private bank is “increasingly targeting” the UHNW and family office segment. “We are very aware of the financial metrics of that segment.”

As a location, Singapore is unignorable, he said, adding: “It is guaranteed to come up in conversations.”