Barclays is working with Singapore police to investigate whether one of its former private bankers, working with Non-Resident Indians, stole client assets.
"The investigation has established that only a very small number of clients of this banker have been impacted." said Singapore-based spokeswoman for Barclays, Eugenia Koh without providing the exact number of clients affected.
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Investigations, headed by the Singapore’s white-collar crime investigation unit, are focussed on Jagdish Kale, a private banker and former employee of Barclays in Singapore, who was dismissed on 6 February.
"We have notified the relevant authorities and are working closely with them to expedite investigations. We have hired a Big Four forensic team for our internal investigations," said Koh.
Media reports suggest that Kale has declined to comment.
The Barclays’ spokeswoman said the case involved an isolated banker and that relevant clients have been compensated or are in the process of being compensated.
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By GlobalDataHowever, she did not comment on ongoing investigations.
"Following findings from the investigation, measures have been taken to prevent similar incidents from occurring", she added.
