Barclays exits retails banking in europe
Private equity firm, AnaCap has today finalised its deal with Barclays buying their French retail business, meaning Barclays has now exited retail banking in Europe.
74 retail branches were bought, including wealth and investment management arm, life insurance business and brokerage operations however, the Barclays brand will still be visible for the next year.
Jes Staley, Barclays chief executive said: “Today’s completion shows the continued benefit of Barclays’ focused approach to reducing its non-core assets and releasing their value.”
Staley continued: “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.”