BANKING & FINANCE - May 21, 1992

Bank of New York to Buy Barclays Branches: Bank of New York will acquire nearly all assets of Barclays Bank of New York, a retail banking subsidiary of Britain’s Barclays Bank. Terms of the deal were not disclosed. The acquisition will add 63 branches to Bank of New York’s retail network, giving it 286 in the New York area. It will boost the bank’s assets by $2.2 billion. “Barclays’ strategy in North America is to concentrate on serving the corporate and institutional markets,” John Kerslake, Barclays’ chief executive for North America, said of the retail banking divestiture.