Barclays appoints Morgan Stanley’s Wee Yee-Yeong to lead private bank in Singapore, Asia

[SINGAPORE] Barclays has appointed Morgan Stanley’s Wee Yee-Yeong as head of its private bank in Singapore and Asia, as the British lender builds out its wealth-management business in the region.

Wee, who is currently CEO and head of sales for Morgan Stanley’s Singapore wealth-management business, will join Barclays later this year and be based in the city-state.

He will lead Barclays’ private-banking business in Singapore and drive its regional strategy, while working with the bank’s wider distribution teams serving international Asian clients.

Wee has more than two decades of experience in wealth management and has held senior leadership and client coverage roles at the Bank of Singapore, Credit Suisse, Goldman Sachs, UBS Wealth Management and Merrill Lynch.

He will succeed Alexander Harrison, who has been serving as interim head of Barclays’ private bank in Singapore.

The appointment comes shortly after Barclays launched a booking centre in the Republic, as it seeks to expand its private-banking presence in one of Asia’s major wealth-management hubs.

The bank said that the Singapore operation will focus on entrepreneurs, ultra-high-net-worth clients and family offices, particularly those with banking, investment and financing needs spanning several markets.

“Singapore is a key market for Barclays and an important gateway to growth across the Asia-Pacific,” said Annabelle Bryde, head of Barclays Private Bank International.

“Wee Yee-Yeong’s deep regional expertise, strong leadership credentials and client relationships will help us build on the momentum we have established in the region,” she added.

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Jaideep Khanna, Barclays’ CEO for Apac, said that Singapore is central to the bank’s long-term growth ambitions, with the recent booking centre launch and Wee’s appointment forming part of that strategy.

His appointment would help Barclays deepen relationships with entrepreneurs, family offices and international clients while connecting them with the bank’s broader banking, markets and financing capabilities, noted Khanna.

Barclays’ India business will continue to be led by Adrish Ghosh, who reports directly to Bryde.

The lender has had a presence in Apac for more than 50 years, with operations across markets including Australia, Hong Kong and Japan.