Barclays Aims To Triple Workforce In India

Barclays is set to embark on a significant hiring spree in Asia, aiming to expand its client assets substantially over the next few years. The focus will be on attracting the ultra-rich and family offices in India and Singapore, according to a report by Bloomberg News citing a Barclays executive.

By the end of 2028, Barclays intends to quadruple its private banking assets in the region. To achieve this, the bank plans to triple the size of its wealth team in both India and Singapore, stated Nitin Singh, the head of Barclays' wealth business for the region.

"We have significant growth ambitions for the business, and a large portion of global growth is occurring in Asia," Singh said.

At present, Barclays manages approximately 183 billion pounds ($234 billion) in customer deposits, lending, and invested assets across its wealth businesses. The majority of these assets are based in the UK, while Asia's share is in the high teens, Singh told Bloomberg.