Barclays Private Bank (BARC.L) announced two senior hires in its Singapore office on Monday to capitalize on the wealth and growth of family offices in the city-state.
Tom Road is Barclays Private Bank Singapore’s deputy head.
According to Barclays, Road, who has covered ultra-high-net-worth (UHNW) and global family offices for 13 years in London, moved to Singapore to take on the new post.
Wengmun Loh will lead Barclays Private Bank’s Singapore dealing and derivatives.
It said that Loh joined Barclays in 2008 and was most recently the head of UK Direct Access for Barclays Private Bank in London.
Singapore is one of the first Asian cities to reduce economic restrictions, and its tax-friendly regime and political stability have attracted money.
“These new appointments will strengthen our presence here and allow us to meet further the investment and banking needs of family offices and UHNW clients in the region,” said Barclays Private Bank and Wealth Management CEO Jean-Christophe Gerard.
