Barclays

Barclays Wealth launches Renminbi services for its private banking clients in Hong Kong

Barclays Wealth, the global wealth management division of Barclays PLC, today announces the launch of Renminbi (RMB) services exclusively for its private banking clients.

Barclays Wealth offers clients a wide range of RMB investment products, including RMB deposits, RMB deliverable spots and forwards, foreign exchange swaps, inward and outward remittances as well as bonds. It has a long-established presence in Hong Kong, serving clients in the Greater China region. In addition to providing a full suite of private wealth management solutions, Barclays Wealth also caters to the sophisticated business needs of entrepreneurs in Asia, through drawing on the capabilities of Barclays Capital - the investment banking division of Barclays Bank PLC - offering clients an array of other services including capital-raising activities, access to specialists and advisors, as well as institutional trading platforms.

Bryan Henning, Head of Global Research and Investments, Asia, Barclays Wealth, said: "We have seen an increasing demand for RMB services, among our ultra high and high net worth clients, who are keen to participate in the China growth story. We are pleased to be able to offer a broader range of services in addressing increased investor appetite and the ever-evolving wealth management needs of our clients."

Pakorn Boonyakurkul, Head of North Asia, Barclays Wealth, said: "As RMB trade settlement and fund-raising continues to gain traction, Hong Kong's position as a RMB financial hub will further grow in importance and stature. The delivery of our expanded RMB services is a significant step for Barclays Wealth in capturing the growth of wealth in the Greater China region and further demonstrates our commitment in providing clients with best in class and market-leading services."

Under the leadership of Barclays Wealth Asia Pacific Chief Executive Didier von Daeniken, the firm has been aggressively expanding its footprint in the region, hiring senior bankers, as well as further enhancing its service offerings in the past year. This includes the set up of a Hong Kong booking centre in November 2010, in addition to the Singapore booking centre; the launch in Japan in July 2010 of a private banking joint venture with Sumitomo Mitsui Banking Corporation and Nikko Cordial Securities Inc., as well as the incorporation of a Singapore Trust Company in June 2010, complementing the Hong Kong Trust Company.

For further information contact:

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

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