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Barclays completes sale of French retail and wealth and investment management operations to AnaCap Financial Partners

Barclays has today completed the sale of its French retail and wealth and investment management business to AnaCap Financial Partners.

 

The sale includes the network of 74 retail branches, a life insurance business, wealth and investment management, and brokerage operations. All employees of the French retail and wealth and investment management business will become part of AnaCap’s portfolio of companies.  The business will continue to be branded Barclays for a period of up to 12 months.

 

AnaCap is a specialist European financial services private equity firm. Its banking investments comprise Aldermore in the UK, MeDirect in Belgium; Mediterranean Bank in Malta; Equa bank in the Czech Republic; and Nest Bank in Poland.

 

Today’s completion reduces Barclays’ Risk Weighted Assets by c.£0.5bn and annualised costs by c.£150m.

 

Commenting on the announcement, Jes Staley, Barclays Group Chief Executive, said:

 

“Today’s completion shows the continued benefit of Barclays’ focused approach to reducing its non-core assets and releasing their value. It also marks the sale of Barclays’ last retail banking operation in Continental Europe.

 

“I’d like to thank our employees in France who will be transferring to AnaCap for their service to Barclays and its customers over many years.  Our team’s professionalism through the sale process underlines the strength of our customer relationships and why the business was attractive to AnaCap.  We wish the team well for the future.

 

“Barclays continues to operate corporate and investment banking in France where those franchises are strong and we believe we are well placed.”

 

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For further information, please contact:

 

Investor Relations

 

Media Relations

Kathryn McLeland

Tom Hoskin

+44 (0)20 7116 4943

++ 44 (0) 20 7116 6927

 

Notes to editors

 

About Barclays

Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 85,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.home.barclays .