Barclays Targets Family Offices with Singapore Private Bank Booking Centre

Barclays Singapore private bank capabilities are expanding with the launch of a new booking centre aimed at family offices and ultra-high-net-worth clients across Asia.

The move marks Barclays’ return to an onshore private banking booking model in Singapore, around a decade after the British lender sold its regional private banking business to OCBC.

The centre combines local booking capabilities with Barclays’ international network, giving clients access to banking, lending, investments, wealth planning and services from the group’s corporate and investment banking businesses.

Barclays is expanding as wealth across Asia-Pacific grows and affluent families increasingly seek cross-border solutions covering multiple markets, generations and asset classes.

An estimated USD5.8tr of wealth is expected to transfer between generations across the region through 2030, increasing demand for succession planning and integrated wealth services.

Singapore is the world’s third-largest cross-border financial centre, behind Hong Kong and Switzerland, according to Boston Consulting Group.