COMPANIES Barclays is planning to spin off a £4bn portfolio of complex credit assets as the bank presses ahead with a process to clean up its balance sheet and ease shareholder concerns over its investments.
The bank is looking at a deal to shift up to £4bn of the assets off its balance sheet in an echo of a similar transaction it undertook last month with a $12.3bn portfolio, people familiar with the matter said. That deal involved a team of 45 Barclays staff, led by Stephen King, head of principal mortgage trading, leaving the bank.
