Barclays plans to significantly expand its wealth management operations in India and Singapore, aiming to triple its staff and quadruple private banking assets by 2028.
The move targets ultra-rich clients and family offices, reflecting Barclays' strategic shift towards Asia amid global growth trends. Nitin Singh, head of Barclays' regional wealth business, highlighted Asia's pivotal role in the bank's growth strategy, with current assets primarily UK-based.
This expansion underscores Barclays' commitment to capturing a larger share of Asia's wealth management market, positioning itself to cater to increasing demand for sophisticated financial services in the region.