Barclays agreed to sell the indexing business built around former Lehman Brothers benchmarks to Bloomberg LP for about $781m, as CEO Jes Staley speeds up disposals of unwanted assets.

Bloomberg News reports that Barclays said it will post a $716.9m gain from selling the risk analytics and index solutions business, boosting its regulatory capital level by 0.1%, according to a statement Wednesday from the bank.

The deal needs antitrust approval and should be completed ‘mid-2016’, Barclays said. 

The bank’s indexes, such as the Global Aggregate, are widely used as corporate bond benchmarks by portfolio managers. Much of the business was acquired in 2008, when Barclays absorbed Lehman Brothers Holdings’s North American unit. Staley, a 58-year-old veteran of JPMorgan., was hired by Chairman John McFarlane in October to accelerate the bank’s restructuring and refocus on its most profitable British and U.S. businesses.

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Barclays to Sell Former Lehman Bond Benchmarks to Bloomberg

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