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Barclays announces further Non-Core disposals: sale of the UK Trusts business completes

Barclays PLC today announces that it has completed the sale of its UK Trusts business to ZEDRA.

ZEDRA is an independent global specialist in trust, corporate and fund services, with offices in 11 jurisdictions.

While an attractive business with strong growth potential, the UK Trusts business is no longer central to Barclays’ strategy and was moved to Barclays Non-Core. The sale was announced in October 2016.

Harry Harrison, Head of Barclays Non-Core, said: “The sale of our UK Trusts business is another example of the simplification of Barclays and further progress towards closing Barclays Non-Core on 30th June 2017.”

“I want to thank our UK Trusts colleagues for their hard work and commitment in ensuring a smooth transition for our clients. I wish them well in the future.”

Dena Brumpton CEO, Barclays Wealth and Investments said: “Barclays holds a minority stake in ZEDRA which demonstrates our interest in the ongoing success of this business and commitment to supporting continuing relationships with clients and the advisory community.”

Niels Nielsen, ZEDRA CEO, said: “This is an important strategic acquisition for us and we welcome the staff and clients of Barclays UK Trust business to the ZEDRA Group. The move adds to our UK capabilities and other services we already provide. This development marks another step in our growth plan offering clients a balanced and global geographic reach.”
About Barclays

Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 120,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website .