Barclays, which has already sold off its asset management arm to US-based BlackRock, is now considering the sale of its private equity business and will meet investment partners this week to discuss the issue, Reuters said, citing people familiar with the matter.

Barclays Private Equity is a mid-market investor that has invested in over 350 businesses since its formation in 1979. A sale of the business has been rumoured since last year, including a possible management buyout where Barclays would retain a stake, the news service said.

Barclays said it regularly assesses the value of the business to the group, but declined to comment further, according to the news service.

The UK-listed bank, parent to Barclays Wealth, has, unlike some of its peers such as Lloyds Group and Royal Bank of Scotland, not called on UK public funds to bolster its balance sheet. Instead, it has raised capital in the financial markets and last month, it agreed to sell Barclays Global Investors to BlackRock for $13.5 billion.

Meanwhile, in a statement today, Barclays announced some changes to its non-executive directors. It said that Reuben Jeffery will join its board as a non-executive director, with immediate effect. Mr Jeffery is a senior advisor at the Center for Strategic & International Studies in Washington, DC and previously served in the US government as Under Secretary of State for Economic, Energy and Agricultural Affairs. He has also spent 18 years at Goldman Sachs.

Separately, Sir Richard Broadbent, who is senior independent director and chairman of the board's human resources and remuneration committee and risk committee, will become deputy chairman with immediate effect. He succeeds Sir Nigel Rudd, who retired as deputy chairman in April 2009.