Barclays said sounding out buyers for wealth unit

Barclays is sounding out potential buyers for its Asian wealth-management business as Chairman John McFarlane refocuses Britain’s second-largest bank on the most profitable businesses in the U.S. and U.K., said two people with knowledge of the matter.

Bloomberg News reports that while several parties have expressed interest in the business, the bank hasn’t taken a final decision on a sale, said the people, who asked not to be identified because the matter is private

A sale would put Barclays at odds with Credit Suisse and other European banks that are seeking to tap a larger share of wealthy clients across Asia to bolster earnings.

Hit the link below to access the complete Bloomberg News article:

Barclays Said to Gauge Interest in Asia Wealth Business Sale

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