Barclays reduces stake in Barclays Africa, nets £603m
Barclays sold a 12.2% stake in Barclays Africa Group Ltd (BAGL) on Wednesday, as part of its ongoing efforts to extricate itself from the business.
Barclays
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Barclays speeds up sale of French arm as Q1 profits dip
Barclays has entered exclusive talks with specialist European private equity firm AnaCap Financial Partners to sell the bank’s French wealth management and retail banking operations.
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Barclays pulls out of Gibraltar
Barclays is to close its remaining Gibraltar office and depart the British overseas territory, two years after it began winding down its retail banking operations there.
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JPMorgan cuts Asia wealth management workforce by 5%
JPMorgan Chase has cut around 30 jobs at its Asian wealth management businesses in Hong Kong and Singapore, as the US bank increases its focus on a smaller pool of wealthier clients.
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Financial services complaints down
Financial services firms in the UK received 2.11 million new complaints between July and December 2015, a decrease of 1.4% compared with the previous six months, according to the Financial Conduct Authority.
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Barclays to sell its stake in Africa bank
Barclays Bank has announced its intention to sell its 62.3% stake in its African business, Barclays Africa Group Ltd (BAGL) over the next two to three years as it faces regulatory pressure over capital requirements and FX erosion.
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Three bidding for Barclays Asia private wealth business
Singapore’s DBS Group and Oversea-Chinese Banking Corp (OCBC), and Swiss-headquartered Julius Baer have reportedly submitted non-binding bids for Barclay’s Asian private wealth business, reports Reuters.
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PEOPLE MOVES: BlueBay AM, Ascot Lloyd, Knadel…
BlueBay Asset Management has strengthened its high yield team; while Ascot Lloyd has nabbed the former chief executive of Cofunds for a non-executive role. Knadel and the JFSC announced board appointments and Barclays named a new chief operating officer.
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PEOPLE MOVES: HSBC GAM, Man GLG, Schroders…
The revolving door continues to spin as HSBC GAM announced appointments and a replacement, with a member of staff departing for sunnier climes. Schroders and Premier also reported departures, as Orangefield Legis recruited an industry veteran.
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Barclays announces investment bank cutbacks, Asia hard hit
British bank Barclays has announced its investment banking arm is to close offices in nine countries across Asia, the Americas and EMEA.
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Barclays’ trust business acquired and rebranded
Barclays Wealth and Investment Management has sold a majority share of its trust and fiduciary business to an independent investor group.
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Barclays shedding more investment jobs in Asia
Barclays is expected to announce further job losses in its Asia investment banking sector, with corporate finance and advisory staff in South Korea and Taiwan and equities sales and research staff across the region also under the cosh, according to Reuters.