A takeover of Barclays is not likely to happen soon, contrary to rumours that a US bank is interested, said Bob Diamond chief executive of B...

A takeover of Barclays is not likely to happen soon, contrary to rumours that a US bank is interested, said Bob Diamond chief executive of Barclays Capital in an interview with The Asian Banker. “Is there anything you see about Barclays that suggests that they’re looking to be taken over?” He asked during the interview, although admitting that he is approached by “two or three people a week”. Of recent rumours linking Barclays with Bank of America, he told the magazine: “Bank of America has nothing in Europe. They don’t have anything in the global wholesale businesses, and they’re not doing asset management business out here or investment banking. So of course the rumours always start, ‘who are they going to buy?’” Mr Diamond did not totally rule out the possibility of a takeover though. “We would never say never to an acquisition. It would have to be something that advances our strategy, something where the economics are right, and something where we could manage the integration,” he told The Asian Banker. Mr Diamond thinks that Barclays Wealth can leverage the Barclays brand and products. “Wealth management is a very competitive business not just in Asia but around the world, but there’s absolutely no reason – with our brand being Barclays, and our reputation, and the power we have with Barclays Capital and BGI products – that we can’t be one of the winners here. It’s all down to execution, and that’s our job.”