Barclays to Offer Brokerage Services in Taiwan via New Subsidiary

British bank Barclays announced on Wednesday that it received permission from Taiwanese authorities to establish a subsidiary to provide brokerage and underwriting services for international and Taiwanese corporate and institutional clients.

The company said in a statement that through the establishment of its wholly-owned subsidiary, Barclays Securities Taiwan Ltd, it aims to leverage its global corporate and investment bank’s expertise to offer clients access to key regional and global capital markets, as well as cross-border investment opportunities.

Barclays Asia Pacific said the build of its platform in Taiwan shows the company’s commitment to growing its Asia Pacific franchise.

The subsidiary is expected to be fully operational in the third quarter of this year, subject to obtaining the relevant licensing approval.

In January, DBS Group, Southeast Asia’s largest bank by assets, made a deal to acquire Citigroup’s consumer business in Taiwan for $687 million as the Singapore bank shores up regional acquisitions to power growth.

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