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Barclays Weighs Bid for SocGen's U.K. Private Bank, Reuters Reports

--Barclays is considering a bid for Societe Generale's U.K. private bank Kleinwort Hambros, Reuters reports citing unnamed sources.

--SocGen has started inviting bidders to take part in an auction for its Kleinwort Hambros unit, according to Reuters. Among those invited to bid are Lloyds Banking Group and the two wealth managers Rathbones and Raymond James, Reuters reports.

--Kleinwort Hambros, with assets under management exceeding 12 billion pounds ($15 billion) in 2022, could be valued at GBP700 million if sold, according to Reuters.

--Barclays, SocGen declined to comment when requested for comment by Dow Jones Newswires.


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(END) Dow Jones Newswires

February 15, 2024 11:18 ET (16:18 GMT)

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