Barclays to build up Singapore private banking business in Asia push
LONDON (BLOOMBERG) - Barclays plans to make key hires in investment banking and wealth management across Asia next year as the British lender plots its return to some of the world's fastest-growing economies after a 2016 restructuring. The bank - which is benefiting from a boom in deals and trading along with its Wall Street rivals - is seeking to rebuild in some of the markets it exited, and is targeting China, India, Singapore and Australia to expand, according to Mr Jaideep Khanna, head of Barclays Asia-Pacific and India chief executive. He said Barclays plans to build up its private banking business in Singapore, and investment banking in Australia by hiring locally. The bank has a stake in Australian advisory firm Barrenjoey Capital Partners, which hired a number of prominent dealmakers last year from banks including UBS and JPMorgan Chase & Co. It is also hiring in Japan and Hong Kong. "We are profitable in the region and I fully expect it to continue in 2022," Mr Khanna, 56, said in an interview. "Our focus is going to be consistent - try and stick to the areas where we are strong. There are enough areas for us to drive returns today and that's what we are focused on." Barcl...
