SINGAPORE, June 5 (Reuters) – Barclays Personal Financial institution (BARC.L) mentioned on Monday it has made two senior appointments in its Singapore workplace in a transfer to faucet into the inflow of wealth and progress of household workplaces within the city-state.
The lender has appointed Tom Street as its deputy head of Barclays Personal Financial institution in Singapore.
Street, who has labored for Barclays Personal Financial institution in London for the previous 13 years masking ultra-high-net-worth (UHNW) and world household workplaces, relocated to Singapore to take up the brand new function, in response to a press release by Barclays.
The British common financial institution has additionally appointed Wengmun Loh as the pinnacle of dealing and derivatives of Barclays Personal Financial institution in Singapore.
Loh has been with Barclays since 2008, and was most not too long ago the pinnacle of UK Direct Entry for Barclays Personal Financial institution in London, it added.
Singapore has been attracting wealth lately by being one of many first Asian cities to considerably ease pandemic restrictions, on prime of its tax-friendly regime and being seen as politically secure.
“These new appointments will strengthen our presence right here and permit us to additional meet the funding and banking wants of household workplaces and UHNW purchasers within the area,” Jean-Christophe Gerard, CEO, Barclays Personal Financial institution and Wealth Administration, mentioned within the assertion.
Reporting by Yantoultra Ngui; Enhancing by Sherry Jacob-Phillips
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