Barclays to sell part of investment banking unit

Barclays is to open talks with potential buyers of its Brazilian investment banking business as part of a wider restructuring led by the new chairman of the bank.

Sky News has learnt that Barclays executives have sanctioned a process to explore an exit from parts of its remaining investment banking operations in the stuttering Latin American economy.

Discussions with prospective acquirers of Barclays' assets are at a preliminary stage, sources said on Sunday.

They underline the determination of John McFarlane, who became the bank's executive chairman during the summer following the ousting of Antony Jenkins as its chief executive, to accelerate the dismantling of its non-core division.

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