Bringing you live news and features since 2006 

AnaCap to acquire Barclays’ French retail banking operations


European financial services private equity firm AnaCap Financial Partners is to acquire Barclays’s French retail banking operations.

These include Barclays’ branch network, life insurance business, wealth and investment management and brokerage operations, subject to regulatory approval.
It follows the completion of a consultation with employee representative bodies that began in May, when Barclays entered exclusive discussions with AnaCap.
Following and subject to completion, AnaCap funds will leverage Barclays’ client base, network and relationship managers with a view to building the leading independent wealth manager in France. Plans include the relaunch of the mortgage lending proposition to attract and retain clients; improving the digital proposition and online tools to create a better customer experience; enhancing the product offering; and a complete re-platforming of the IT system to drive efficiency.
With EUR7 billion of assets under management and around 140,000 clients, Barclays French operations already have meaningful scale and are ready for the next phase of development. The retail banking and wealth business operations are focused on the affluent segment, and face a large and rapidly growing addressable market totalling some EUR3.5 trillion of assets, with an expected CAGR of 4 per cent through to 2020.
The investment would become AnaCap’s latest addition to its banking portfolio. AnaCap funds’ banking investments comprise Aldermore in the UK, which is now publicly listed on the London Stock Exchange; MeDirect in Belgium; Mediterranean Bank in Malta; Equa bank in the Czech Republic; and FM Bank in Poland – recently rebranded as Nest Bank.
The acquisition would mark the firm’s second French investment, following the buyout of AssurOne Group, a digital insurance broker, in 2014.
Nassim Cherchali, director of AnaCap, says: “We are delighted to have signed this agreement to acquire Barclays France, following an extensive consultation process. This is an extremely attractive platform with huge potential for growth, which benefits from a unique combination of distribution and manufacturing capabilities, a strong branch network and vastly experienced relationship managers across the country. We look forward to working with the management team to create the leading wealth manager for the affluent sector in France.” 

Latest News

US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..
Calastone has published an ETF white paper which examines several of the processes that take place across the lifecycle of..
Adapting product lines to fit into changing methodologies and meet shifting demand is essential to remaining relevant in the industry..

Related Articles

Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Lorraine Sereyjol-Garros, BNP Paribas
Following changes to the French Monetary and Financial Code and of the French market authority AMF’s General Regulation, it is...
Ed Rosenberg, Texas Capital
Texas Capital Bank first opened its doors back in December 1998 and nowadays offers wealth-management services, as well as commercial,...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by