According to Charlie Gasparino, the bank is reviewing its "options."
Barclays’ Americas wealth management business—the brokerage unit of the old Lehman Brothers—is on the selling block, brokers at the firm are being told by their managers. The move comes amid a wave of defections from the division of the London-based bank to other brokerage houses, and as Barclays, like other big foreign owned banks, comes under tremendous pressure to downsize amid tougher new regulatory standards. A spokeswoman for Barclays’ Americas wouldn’t deny the possible move. “We are always evaluating strategic options for our businesses. If any firm decisions are made, we will provide an update in the second quarter,” the spokeswoman said in a statement to FBN. It’s unclear how close the firm is to selling the U.S. brokerage unit, which is separate from Barclay’s larger wealth management division that operates globally and doesn’t appear to be for sale.