Barclays Wealth aims to double revenue in Asia by 2019

Singapore

BARCLAYS' wealth management business in Asia is expected to double its revenue by 2019 on the back of markets with burgeoning wealth that include Japan, China, and Indonesia, said a top executive in an interview.

With this, it is also boosting its sales force in the region by 25 per cent over the next 12 to 18 months, said Didier von Daeniken, head of wealth management for the Asia-Pacific, Middle East and Africa. The bank has about 100 private bankers in Singapore and Hong Kong. "We have the full support of London in pursuing a growth strategy in Asia," said Mr von Daeniken.