Barclays Private Bank Relaunches Singapore as a Booking Centre
Barclays Private Bank[1] has re-established[2] Singapore as a private banking booking centre[3], having originally sold its local operations to OCBC’s private banking subsidiary the Bank of Singapore[4] a decade ago (alongside the sale of its private client-focussed fiduciary business to a global asset servicing firm[5]).
It originally announced its intention to re-establish the booking centre back in 2024[6] with the view of getting operational by 2026, having re-entered the client segment in 2021 via a strategic hire[7], with booking handled by one of the other offshore/non-East Asia booking centres.
The vision is to leverage its status as a universal bank (across its corporate banking and investment banking) and cross-serve the private client and family office client segment[8].
Notes
- ‘Today marks an important milestone for Barclays Private Bank as we officially launch our Singapore booking platform. The platform strengthens our ability to serve ultra-high-net-worth individuals and global family office clients across key wealth corridors between Asia, the UK, Europe and the Middle East. It brings together Barclays’ global connectivity with a locally booked private banking offering in one of the world’s most important wealth hubs. This launch reflects significant collaboration across teams, regions and disciplines, and is a strong example of what we can achieve when we work together with a shared focus on our clients. A huge thank you to all the colleagues who helped make today possible. This is an exciting foundation for the next phase of growth as we continue to enhance the platform, deepen client relationships and unlock new opportunities across Asia and beyond.’ (Barclays Private Bank, 4 September 2026). https://www.linkedin.com/posts/barclays-private-bank_today-marks-an-important-milestone-for-barclays-activity-7501559523384393729-lNzO · Archive 1 · Archive 2. ↑
- ‘Barclays Private Bank launches Singapore booking centre to serve globally connected clients’ (Barclays, 4 September 2026). https://home.barclays/news/press-releases/20260/090/barclays-private-bank-launches-singapore--booking-centre-to-serv/ · Archive 1 · Archive 2. ↑
- Rae Wee, ‘Barclays aims to more than double banker headcount in Singapore private bank by 2030’ (Reuters, 4 September 2026). https://www.reuters.com/legal/transactional/barclays-launches-private-bank-booking-centre-singapore-2026-09-04/. ↑
- Chanyaporn Chanjaroen, ‘OCBC to Buy Barclays’s Asia Wealth Division for $320 Million’ (Bloomberg, 7 April 2016). https://www.bloomberg.com/news/articles/2016-04-06/ocbc-unit-to-purchase-barclays-wealth-in-asia-for-320-million · Archive 1. ↑
- Bart Deconinck, ‘ZEDRA is launched as acquisition of Barclays’ trust business completes’ (ZEDRA, 18 January 2016). https://www.zedra.com/news/zedra-is-launched-as-acquisition-of-barclays-trust-business-completes/ · Archive 1 · Archive 2. ↑
- Chanyaporn Chanjaroen & Preeti Singh, ‘Barclays to Add Singapore as Private Bank Booking Center by 2026’ (Bloomberg, 26 November 2024). https://www.bloomberg.com/news/articles/2024-11-26/barclays-to-add-singapore-as-private-bank-booking-center-by-2026 · Archive 1. ↑
- Tom Burroughes, ‘Barclays Steps Up Asia Private Banking Game’ (WealthBriefing Asia, 12 July 2021). https://www.wealthbriefing.com/html/article.php/Barclays-Steps-Up-Asia-Private-Banking-Game · Archive 1. ↑
- Wong Chia Peck, ‘In return to Singapore, Barclays Private Bank sets sights on ultra rich and family offices: UK lender is ramping up hiring in the city-state, as it prepares to set up its second booking centre in Asia-Pacific’ (The Business Times, 12 May 2025). https://www.businesstimes.com.sg/companies-markets/banking-finance/return-singapore-barclays-private-bank-sets-sights-ultra-rich-and-family-offices · Archive 1. ↑