(26 July 2022 – Taiwan) Barclays has received the approval in Taiwan to establish a subsidiary, providing brokerage and underwriting services to the firm’s global and Taiwanese corporate and institutional clients.
Barclays has been actively expanding its presence in key markets in Asia Pacific (APAC), including Australia, China/Hong Kong SAR, India, Japan and Singapore. Most recently, the firm was granted a license to operate as a foreign authorised deposit-taking institution (ADI) in Australia.
Taiwan is a strategically important market for Barclays’ APAC. Through the establishment of the wholly-owned subsidiary, called Barclays Securities Taiwan Ltd (BSTL), the firm aims to leverage its global Corporate and Investment Bank (CIB) expertise and footprint to provide clients access to key regional and global capital markets, as well as cross-border investment opportunities. Subject to obtaining the relevant licensing approval, BSTL is expected to be fully operational in Q3 2022. It will be led by Shella Wang, currently Head of Macro Distribution, North Asia, who has also been appointed as Chairman of the subsidiary.
“The buildout of our platform in Taiwan demonstrates our commitment to growing our Asia Pacific franchise. The Taiwan subsidiary will enable us to further engage with our Taiwanese institutional clients and help them gain access to our suite of world class corporate and investment bank product offerings and solutions” commented Barclays Head of Asia Pacific, Jaideep Khanna.
“The onshore subsidiary will further seize growth opportunities in Environmental, Social, and Governance (ESG)-linked financing and investment, as well as the Formosa market in Taiwan. Over the years, we have demonstrated our strength in our cross-asset product business and have been building a strong pipeline with our Taiwanese clients. Today’s announcement marks the firm’s commitment to deepening our client reach and investment in this market” said Ms. Wang.