Barclay has sold its Wealth and Investment Management ( WIM ) business in Singapore and Hong Kong to the Bank of Singapore as part of a wider - scale restructuring of its operations and workforce . The purchase price represents 1.75 % of WIM ’s assets under management on completion , totalling $ 500 m . Barclays will still maintain a strong corporate and investment banking business in the future despite the offloading of its flagship business .
Barclays has sold its Wealth and Investment Management (WIM) business in Singapore and Hong Kong to the Bank of Singapore as part of a wider-scale reshuffling of its operations and workforce. The sale price represents 1.75% of WIM’s assets under management on completion, totalling $225m. Barclays will still maintain a strong corporate and investment banking business in the region despite the offloading of its flagship business.