Barclays sources deny reports of possible merger
The FT said the moves were part of wide-ranging contingency plans being considered in response to pressure from activist investor Edward Bramson
London — Barclays is not exploring a potential merger with other banks, two sources close to the bank have told Reuters, dismissing a media report that said Barclays was considering a possible deal with rivals, including Standard Chartered. The Financial Times reported on Wednesday that Barclays’ senior board members were exploring a deal with another bank and chairman John McFarlane was keen on the idea of a possible combination with StanChart. Barclays and Standard Chartered declined to comment on the FT report. The FT said the moves were part of wide-ranging contingency plans being considered by the bank in response to pressure from activist investor Edward Bramson, who has become one of its biggest shareholders. Barclays is under pressure to bolster profits, as CEO Jes Staley’s aggressive push in investment banking since he joined in 2015 has largely failed to bear fruit. Two sources close to the bank told Reuters on Wednesday that no deal was in the works and Barclays had no p...
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