Firms seen as potential bidders for Barclays unit

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Singapore's DBS Group Holdings and Julius Baer are seen as potential bidders for Barclays Asian private wealth business, valued at about $600m, sources familiar with the matter told Reuters.

Reuters reports that Barclays is weighing the sale, the sources said, even though a formal sale process had not begun.

DBS sees wealth management as a core growth business and is keen to expand in that area, having bought Societe Generale's Asian private bank for $220m last year.

While Barclays declined to say whether a sale was on the cards, several smaller Asian private banks that have struggled to generate enough revenue to pay expensive bankers and cover rising regulatory costs have been sold recently.

'We are working through cellular analysis which examines what we do best and where. This has caused some speculation as we have numerous business lines and geographies', a Barclays spokesman in Singapore said.

To access the complete Reuters article hit the link below:

DBS, Julius Baer seen likely bidders Barclays Asia wealth unit-sources

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