Barclays is considering buying a large US retail bank in a push to expand beyond its successful investment banking franchise. Antony Jenkins, the new head of Barclays’ retail banking activities, is preparing a strategy paper that will go to the board within two to three months, say people familiar with the plan. Barclays has not identified firm targets for a US retail bid, but bankers and analysts point to the likes of SunTrust, PNC Financial and US Bancorp – all bailed-out US banks – as potential targets.

This entry was posted by Gwen Robinson on Wednesday, March 10th, 2010 at 5:26 and is featured in The 6am Cut London (10 Mar 2010), The Lunch Wrap (10 Mar 2010) . Tagged with barclays, PNC, SunTrust, us bancorp. Edit this entry.