Barclays sells Wealth and Investment Management, Americas franchise to Stifel
Barclays, a British multinational banking and financial services company has announced that it has signed an agreement to sell its Wealth & Investment Management franchise in the Americas to Stifel Financial Corp. (NYSE: SF). Barclays has an extensive presence in Europe, the Americas, Africa and Asia.
Stifel has a long history of serving clients in the investment sector and an existing sizeable Global Wealth Management franchise. It will be able to offer a broader product range. In addition, Stifel will also be the private wealth distribution partner for certain of Barclays' equities and credit new issue securities in the US.
Akshaya Bhargava, Chief Executive of Global Wealth and Investment Management, Barclays' puts forth his views, “The sale of our Wealth & Investment Management, Americas franchise to Stifel represents a good outcome for Barclays and for our clients. We are pleased to have been able to find in Stifel a buyer that is committed to helping the franchise to grow over the long term, and providing for our clients an expanded range of products and services.”
Barclays is an international financial services provider engaged in personal, corporate and investment banking, credit cards and wealth management. With 325 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 130,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.