Barclays Wealth to Quadruple Assets in South, Southeast Asia
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Barclays Plc plans to quadruple the amount of money it manages for rich clients in South and Southeast Asia in the next five years by injecting capital and adding staff at its private-banking unit in the region.
The number of bankers covering non-resident Indians from Singapore and Hong Kong, as well as Malaysia, Singapore and Indonesia, will rise by 60 percent by year-end and more than double by the end of 2011, Srinivas Siripurapu, head of Southeast Asia and South Asia at London-based Barclays Wealth, said in an interview in Singapore yesterday.