Will Barclays make a move for a U.S. firm?

That Barclays will buy a big U.S. bank is one of those standing rumors. They never seem to come true, but no one is quite willing to discount the idea altogether. As the credit crisis unfolded, many thought it might come to the table to rescue some banks. Bob Diamond, the bank's president, tells the Financial Times, that it might buy a wealth management firm but not an investment bank. So while it isn't going to buy Lehman Brothers outright, it might be interested in its wealth management properties. The news may give some hope to other firms, like Fifth Third and National City, which might be considering a sale of asset management divisions. It's clear that in this credit crunch, high net worth clientèles are even more important.      

For more:
- here's the Financial Times article

Related Articles:
Could anyone buy Lehman Brothers right now?
Dynamism at Barclays