Reuters exclusive on Barclays plans for big private bank deal

Reuters reported comments by Barclays Wealth vice chairman Gerard Aquilina at the Wealth Summit in Geneva on Oct 7 that the bank was in the market for a large acquisition to boost assets under management. Aquilina said the group would be prepared to acquire an entity the size of Julius Baer or bigger, to reach the target set by the unit’s Chief Executive Tom Kalaris of ranking in the top five private banks globally. The story was picked up by CityAM and Dow Jones` Wealth Bulletin where it was the most read story on the website on Wednesday.