Acquisition

RNS Number:3212R
Barclays Bank PLC
27 October 2003



Barclays Bank PLC acquires Gerrard Management Services Limited


Barclays Bank PLC ("Barclays") today, 27 October, announces the acquisition,
subject to regulatory approval, of Gerrard Management Services Limited 
("Gerrard") from Old Mutual plc for a total cash consideration of #210m.  The 
acquisition brings together Gerrard, one of the UK's leading private client 
wealth managers with #12.5bn assets under management and 116,000 client 
accounts, with Barclays Investment Management, part of Barclays Private Clients, 
which provides wealth management services to Barclays Group customers.


This transaction advances the delivery of one of Barclays strategic priorities,
which is to build a leading UK and European wealth and asset management
business.  Barclays and Gerrard are two complementary businesses which share the
objective of offering clients a fully integrated wealth management service.


On completion, the combined business will be the UK's largest private client
investment manager with #21.4bn assets under management in discretionary and
advisory portfolios for affluent and high net worth clients.


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Contacts:

Investor Relations

James Johnson
020 7699 4525


Media Relations

Hilary McVitty
020 7699 2674


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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