LONDON, 04-Feb-2016 — /EuropaWire/ — Barclays Bank PLC (“Barclays”), acting through Barclays Non-Core, has signed a framework agreement with JP Morgan to govern the transfer of a sub-set of its legacy Non-Core derivatives portfolio.
The execution of this deal is targeted to be completed throughout 2016. Clients and counterparties whose transactions reside in this portfolio will be contacted to obtain their consent in order to transition their transactions in a smooth and orderly manner.
This represents an important milestone in Barclays’ divestment of its legacy Non-Core derivatives portfolio. The transaction continues the strong progress being made with the rundown of Non-Core, in line with Barclays’ strategy of reallocating its resources where better returns can be generated and unlocking value for its shareholders.
Barclays remains fully committed to its top-tier macro franchise.
Notes to editors
For more information contact:
+44 (0) 20 7116 4943
+ 44 (0) 20 7773 4324
Barclays is an international financial services provider engaged in personal, corporate and investment banking, credit cards and wealth management with an extensive presence in Europe, the Americas, Africa and Asia. Barclays’ purpose is to help people achieve their ambitions – in the right way.
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.
For further information about Barclays, please visit our website www.home.barclays.