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Barclays may sell Asian wealth management biz

Barclays is looking for potential buyers for its Asian wealth management business. While several parties have expressed interest in the business, the bank has not taken a final decision on the sale. Barclays has been offering wealth management services in Asia since the early 1970s. The global wealth management unit of the bank has posted declining revenue for the past four quarters, contributing just 4% of the bank’s £5.6 billion in revenue in the three months through September.

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