These former Leham Bros. benchmarks are tools used by corporate bond portfolio managers, and include theGlobal Aggregate. Barclays acquired these benchmarks as part of its acquisition of the North American division of Lehman Brothers Holdings after the Wall Street brokerage firm imploded during the credit crisis of 2008.
This Bloomberg sale is part of plan by Barclays CEO Jes Staley to rid the English bank of unwanted but still valuable assets. According to a Bloomberg news report, Barclays will post a 480 million-pound gain from selling the risk analytics and index solutions business, boosting its regulatory capital level by 0.1 percentage point, according to a statement Wednesday from the London-based bank.
The deal should be completed by the middle of 2016 pending regulatory approval.
This transaction is further evidence of the good work we are doing in managing down our non-core assets so that shareholders can feel the full benefit of ownership of Barclayss well-performing core businesses, Staley said in a press statement.
The indices Barclays acquired from Lehman were the first to be published in 1973, the firm said at the time of the transaction. Barclays then combined the Lehman bond benchmarks with its own and renamed them the Barclays Capital Indices in November 2008.
