Barclays Private Bank Adds Veteran Executives In Singapore
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Barclays Private Bank released a statement on Monday confirming recent senior appointments. The financial institution has hired these new executives in an initiative that is designed to tap into the massive growth of wealth and family offices across the city-state.
Barclays Private Bank makes senior appointments in Singapore
Barclays Private Bank is one of the largest lending institutions globally. The bank has made some significant appointments aimed at transforming its operations and driving growth. One of these appointments is that of Tom Road, who will be taking over as the deputy head of Barclays Private Bank which is located in Singapore.
Road is an executive that has been working at the Barclays Private Bank for the last 13 years, giving him extensive experience in the bank’s operations and in the general financial industry. While working at Barclays, Road was in charge of the ultra-high-net-worth (UHNW) and global family offices.
Road has now been relocated to the bank’s location in Singapore, according to a statement shared by Barclays. Barclays, which is a universal bank, has also announced another appointment of Wengmun Loh. Loh will be the head of dealing and derivatives at Barclays Private Bank at the bank’s offices in Singapore.
Loh has more than 30 years of trading experience across different asset classes, such as foreign exchange, equities, derivatives, and fixed income. Some of the top financial institutions that Loh has worked with include HSBC, Société Générale, and Bloomberg LP.
Before his recent relocation to Barclays’ offices in Singapore, Loh served as the Head of Dealing Barclays Wealth for Asia. In this position, he was tasked with different responsibilities, including overseeing the dealing and sales trading desks in Hong Kong, Mumbai, and Singapore.
The head of Barclays Private Bank Singapore, Evonne Tan, commented on the development saying that Tom and Wengmun came with extensive experience working with leading and sophisticated family offices and UHNWLs across Europe and the UK. As such, the two were value-addition to the Singapore team for the Barclays Private Bank team.
Singapore continues to attract private and wealthy clients
The recent appointment of these two executives comes as Singapore continues to attract much interest across the wealth industry. In recent years, Singapore has attracted wealth by emerging among the first Asian cities that have significantly eased the restrictions around the COVID pandemic.
Singapore has also continued to attract new institutions because of having tax-friendly regime, and it is also among the institutions that have been deemed to be politically stable. Because of this friendly environment, many businesses have been gearing up to expand their presence in the country.
The CEO of Barclays Private Bank and Wealth Management, Jean-Christophe Gerard, commented on the development saying, “These new appointments will strengthen our presence here and allow us to further meet the investment and banking needs of family offices and UHNW clients in the region.”
The executive further said that the years that the two have worked at Barclays’ has made them well-practiced in bringing the solutions offered by the bank to clients.