AnaCap Financial Partners (\u201cAnaCap\u201d),\t the specialist European financial\t services private equity firm, has today announced\t that it has\t signed\t an\t agreement\t with\tBarclays\tplc to\tacquire its\tFrench Retail\tBanking\toperations\tincluding\tits branch network, life insurance\t business,\t wealth and\t investment management and brokerage operations, subject to regulatory\tapproval.\t<\/p>\n
This\t follows\t the\tcompletion\tof\ta consultation\twith employee\trepresentative\tbodies
\nthat\tbegan\tin\tMay,\twhen\tBarclays\tentered\texclusive\tdiscussions\twith\tAnaCap.<\/p>\n
At\t the\t same\t time,\t AnaCap\t has\t unveiled\t more\t detail\t on\t its\t plans\t for\t the\t business.
\nFollowing\t and\t subject\t to\t completion,\t AnaCap\t funds\t will leverage\t Barclays\u2019\t client
\nbase,\t network and relationship\t managers\t with\t a\t view\t to\t building the\t leading
\nindependent\twealth\tmanager\tin\tFrance.\tPlans include\tthe\trelaunch\tof\tthe\tmortgage
\nlending\t proposition\t to\tattract\tand\t retain\t clients;\timproving\t the\t digital\t proposition
\nand\t online\t tools\t to\t create\t a\t better\t customer\t experience;\t enhancing\t the\t product
\noffering;\tand\ta\tcomplete\tre-platforming\tof\tthe\tIT\tsystem\tto\tdrive\tefficiency.\t<\/p>\n
With\t \u20ac7bn\t of\t assets\t under\t management\t and\t around\t 140,000\t clients,\t Barclays
\nFrench\toperations already\thave meaningful\tscale\tand\tare ready\tfor\tthe\tnext\tphase\tof
\ndevelopment.\tThe\tretail\tbanking\tand\twealth\tbusiness\toperations\tare\tfocused\ton\tthe
\naffluent\tsegment,\tand\tface\ta\tlarge\tand\trapidly\tgrowing\taddressable\tmarket\ttotalling
\nsome\t\u20ac3.5\ttrillion\tof\tassets,\twith\tan\texpected\tCAGR\tof\t4%\tthrough\tto\t2020.<\/p>\n
The\t investment\t would\t become\t AnaCap\u2019s\t latest\t addition\t to\t its\t successful\t banking
\nportfolio. AnaCap funds\u2019 banking\tinvestments\tcomprise\tAldermore\tin\tthe\tUK,\twhich
\nis\tnow\tpublicly\tlisted\ton\tthe\tLondon\tStock\tExchange [L:ALD];\tMeDirect\tin\tBelgium;
\nMediterranean\t Bank\t in\t Malta;\t Equa\t bank\t in\t the\t Czech\t Republic;\t and\t FM\t Bank\t in
\nPoland \u2013 recently\trebranded\tas\tNest\tBank.\t In\taddition,\t the\tacquisition\twould\tmark
\nthe\t firm\u2019s\t second\t French\t investment,\t following\t the\t buyout\t of\t AssurOne\t Group,\t a
\nleading\tdigital\tinsurance\tbroker,\tin\t2014.<\/p>\n
Nassim\tCherchali,\tDirector\tof\tAnaCap,\tcommented: AnaCap Financial Partners (\u201cAnaCap\u201d),\t the specialist European financial\t services private equity firm, has today announced\t that it has\t signed\t an\t agreement\t with\tBarclays\tplc to\tacquire its\tFrench Retail\tBanking\toperations\tincluding\tits branch network, life insurance\t business…<\/p>\n","protected":false},"author":20,"featured_media":59180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[1671,1888,1651,1437,2082,1702],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/59182"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=59182"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/59182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/59180"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=59182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=59182"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=59182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\u201cWe\t are\t delighted\t to\t have\t signed\t this\t agreement\t to\t acquire\t Barclays\t France,
\nfollowing\tan\textensive\tconsultation\tprocess.\tThis\tis\tan\textremely\tattractive platform
\nwith\t huge\t potential\t for\t growth,\t which\t benefits\t from\t a\t unique\t combination\t of\tdistribution\t and\t manufacturing\t capabilities,\t a strong\t branch\t network\t and\t vastly
\nexperienced\trelationship\tmanagers\tacross\tthe\tcountry.\tWe\tlook\tforward\tto\tworking
\nwith\t the\t management\t team\t to\t create\t the\t leading\t wealth\t manager\t for\t the\t affluent
\nsector\tin\tFrance.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"