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HomeNewsBarclays to triple staff in India, Singapore to grow wealth management teams

Barclays to triple staff in India, Singapore to grow wealth management teams

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Jul 10, 2024 12:37 PM IST

Barclays aims to quadruple its private banking assets in the region as the company plans to expand its wealth team threefold in India and Singapore.

UK’s Barclays is planning a major hiring spree in Asia to expand client assets over the next few years. The company is aiming to focus on the ultra rich and family offices in India and Singapore, Bloomberg News reported citing a Barclays executive in the know.

Barclays Bank logo is seen in this illustration.(Reuters)
Barclays Bank logo is seen in this illustration.(Reuters)

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By the end of 2028, Barclays aims to quadruple its private banking assets in the region as the company plans to expand its wealth team threefold in India and Singapore to reach the goal, Nitin Singh, head of the bank’s wealth business for the region said.

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“We have significant growth ambitions for the business and a large amount of growth we are seeing happen globally is happening in Asia,” Nitin Singh said.

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Currently, the lender manages about 183 billion pounds ($234 billion) in customer deposits, lending and invested assets across its wealth businesses. Majority of these stem from the UK while Asia’s share is in the high teens, Nitin Singh told Bloomberg.

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