Barclays Wealth has launched a new range of renminbi services exclusively for its private banking customers.

The new services include RMB deposits, RMB deliverable spots and forwards, foreign exchange swaps, inward and outward remittances, as well as bonds.

The bank has a long-established presence in Hong Kong, serving clients in the Greater China region with private wealth management services. Through its investment banking unit, Barclays Capital, the company also caters to the Asian entrepreneurial community.

"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," said Bryan Henning, head of global research and investments for Asia.

Under the leadership of Didier von Daeniken, the chief executive for Asia-Pacific at Barclays Wealth, the company has been actively expanding its presence in the region over the past year, including the establishment of a Hong Kong booking centre in November 2010 and the launch of a private banking partnership with Sumitomo Mitsui in July 2010.