21st May 2007 07:00
Barclays PLC21 May 2007 21st May 2007 BARCLAYS PLC BARCLAYS TO ACQUIRE WALBROOK GROUP LIMITED Barclays Bank PLC ("Barclays") announces that it has signed an agreement toacquire Walbrook Group Limited ("Walbrook"), an independent fiduciary servicescompany. Barclays will finance the transaction out of existing cash resources. Walbrook is based in Jersey, Guernsey, Isle of Man and Hong Kong where it serveshigh net worth private clients and corporate customers. As at 31st December 2006Walbrook had gross tangible assets of £13.5m and £8.6bn of client assets.Barclays will integrate Walbrook into its Wealth Advisory business where it willbuild on existing Barclays Wealth operations in the Channel Islands, Isle ofMan, and Hong Kong. Walbrook's executive management has committed to stayingwith and helping to develop the combined business. Thomas L. Kalaris, Chief Executive of Barclays Wealth, said: "We are delightedto welcome Walbrook to Barclays Wealth. Walbrook has a strong product and clientoffering and geographical footprint that will complement Barclays Wealth. Theacquisition is consistent with our ongoing strategy as we continue to bring amarket leading Wealth Management service to our clients." Bryan Dix, Chief Executive of Walbrook said: "We are excited by the momentum andthe opportunities this transaction creates. Barclays is a great fit, and offersoutstanding opportunities for our people, our business growth and, mostimportantly, for our clients." - ENDS - For further information please contact: BarclaysInvestor Relations Media RelationsMark Merson/James S Johnson Robin Tozer+44 (0) 20 7116 5752/2927 +44 (0) 20 7116 6586 At Barclays Wealth:Nicola Hankey/Caroline Wells+44 (0) 20 7114 9813/7435 About Barclays Barclays PLC is a major global financial services provider engaged in retail andcommercial banking, credit cards, investment banking, wealth management andinvestment management services. We are one of the largest financial servicescompanies in the world by market capitalization. With over 300 years of historyand expertise in banking, Barclays operates in over 50 countries and employs123,000 people, We move, lend, invest and protect money for over 27 millioncustomers and clients worldwide. For further information about Barclays, pleasevisit our website www.barclays.com. About Barclays Wealth Barclays Wealth is the UK's leading wealth manager and has £93bn client assetsglobally. It serves affluent, high net worth and intermediary clients worldwide,providing international and private banking, financial planning, investmentservices and brokerage. About Walbrook Walbrook is an independent fiduciary services company based in Jersey, Guernsey,Isle of Man and Hong Kong. Walbrook serves its clients through specialist clientteams covering either specific services or geographical areas. The specificservices include administration of trust and companies, collective investmentvehicles, special purpose vehicles and employer solutions structures. Walbrookwas established by an MBO from Deloitte in 2003, backed by Hermes Private Equityand has since been partially owned by Walbrook's management team. Forward-looking statements This document contains certain forward-looking statements within the meaning ofSection 21E of the US Securities Exchange Act of 1934, as amended, and Section27A of the US Securities Act of 1933, as amended, with respect to certain ofBarclays plans and its current goals and expectations relating to its futurefinancial condition and performance. These forward-looking statements can beidentified by the fact that they do not relate only to historical or currentfacts. Forward-looking statements sometimes use words such as 'aim','anticipate', 'target', 'expect', 'estimate', 'intend', 'plan', 'goal','believe', or other words of similar meaning. Examples of forward-lookingstatements include, among others, statements regarding Barclays future financialposition, income growth, impairment charges, business strategy, projected levelsof growth in the banking and financial markets, projected costs, estimates ofcapital expenditures, and plans and objectives for future operations. By their nature, forward-looking statements involve risk and uncertainty becausethey relate to future events and circumstances, including, but not limited to,global as well as US economic and business conditions, market related risks suchas changes in interest rates and exchange rates, the policies and actions ofgovernmental and regulatory authorities, changes in legislation, and the impactof competition - a number of which factors are beyond Barclays control. As aresult, Barclays actual future results may differ materially from the plans,goals, and expectations set forth in Barclays forward-looking statements. Anyforward-looking statements made by or on behalf of Barclays speak only as of thedate they are made. Barclays does not undertake to update forward-lookingstatements to reflect any changes in Barclays expectations with regard theretoor any changes in events, conditions or circumstances on which any suchstatement is based. The reader should, however, consult any additionaldisclosures that Barclays has made or may make in documents it has filed or mayfile with the SEC. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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