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Barclays still eyeing a big buy in the US
20.08.08
Barclays president Bob Diamond today repeated his claim that now is a good time for the British banking giant to get serious about America.
He said Barclays would consider buying a US wealth management company but added that it was "highly unlikely" to bid for an investment bank despite depressed share prices on Wall Street.
Diamond, the American who runs Barclays Capital and took home more than £20 million in pay last year, said the credit crunch gave the bank a serious chance to take business off its US rivals.
Chief executive John Varley made similar noises this month.
"The US opportunity in investment banking for Barclays Capital is a generational one," Diamond told the Financial Times. "How often have we seen six or seven of our biggest competitors deflected because of the issues they are facing? In the US we would love to find an acquisition in wealth management."
