Barclays

Establishment of Singapore-based Greater China team aimed at building the core market segments of China and Taiwan out of Singapore

Barclays Wealth, the global wealth management division of Barclays PLC, has appointed Ms. Carol Chen as Market Head, Greater China, based in Singapore, effective 13 December 2011, in a further demonstration of its success in attracting senior private banking talent.

In this newly-created role, Ms. Chen will have direct oversight and responsibilities for building, managing and growing the Singapore-based Greater China team as part of Barclays Wealth's overall Asia expansion strategy. In partnership with high net worth and ultra high net worth clients, she will help them better understand their financial personalities and cater to their complex wealth management needs with the range of bespoke solutions offered by Barclays Wealth in credit, derivatives, foreign exchange, portfolio management and trust structuring. Ms. Chen will also lead the team in delivering client-focused solutions in capital raising, M&A and strategic risk management, leveraging the capabilities of Barclays Capital - the investment banking division of Barclays PLC. She will report to Mr. Boonya-kurkul, Head of North Asia.

Ms. Chen joins Barclays Wealth from UBS in Singapore, where she has been Managing Director, Desk Head Taiwan International, since 2007. There, she led a team of 13, focused on managing the private and business wealth management needs of the Taiwan client segment. Ms. Chen has more than 25 years of financial services experience. Before UBS, she worked with HSBC Private Bank, covering the China client segment.

Barclays Wealth has also recently appointed Michelle Ho, who will report to Ms. Chen, as Senior Banker for Greater China. Ms. Ho has more than 15 years of wealth management experience, and she joined from HSBC Private Bank, where she has been Team Manager since 2004. There, she led a team of bankers responsible for client coverage across both Taiwan and China.

Mr. Boonya-kurkul commented, "Barclays Wealth has hired and continues to be on the look out for senior bankers based in both Hong Kong and Singapore, as we ramp up our Asian expansion. There is a compelling strategic rationale for establishing a Greater China team in Singapore to complement our established presence in Hong Kong. We are committed to expanding the scope of offerings to better serve the needs of our clients, and this allows us to offer Greater China clients choices for doing business with a Hong-Kong based or Singapore-based wealth manager. At the same time, it provides us the opportunity to tap into the deep private banking talent pool in both financial centres."

On 24 November 2011, Barclays Wealth announced the appointment of Januar Tjandra as Head of Greater China, based in Hong Kong, effective 5 December 2011. In that newly-created role based in Hong Kong, Mr. Tjandra will assume overall responsibility for the Greater China coverage teams in Hong Kong, as well as the growth strategy for Greater China.

Earlier this month, Barclays Wealth reported that it has seen interest in its private investment banking services increase four fold among its Greater China clients, especially with the rapid rate of wealth creation across the region. The company will continue to focus on Greater China as part of its overall key Asia Pacific markets strategy in 2012, as it seeks to more than double its assets under management in the sub-region in the next three years.

For further information contact:

Gan Lee Meng, Barclays Wealth, Corporate Communications
+65 6308 3772

Eugenia Koh, Barclays Wealth, Corporate Communications
+65 6308 2951