I have always had a soft spot for Barclays, having worked for a subsidiary at the time (British Linen Bank) that subsequently was swallowed up by Bank of Scotland.

Interesting that an Irishman who put BMO back on the map, also did the same for Barclays taking them down an international track, that has just been plain successful. This post describes the latest scenario’s and outlines the scale of the joint operation, that would place the joint operation at about 5th in the world in terms of capitalisation.

Mr. Barrett chose the international route. By 2004, when he switched from CEO to chairman (he retired at the end of last year), earnings from non-British operations had doubled to about 25 per cent. If yesterday’s reports are right, Barclays is on the verge of international superstardom through the purchase of ABN Amro Bank NV, the leading Dutch bank. Together, Barclays and ABN would have a market value of more than $190-billion, based on yesterday’s share prices and exchange rates. That would place it fifth in the global rankings, behind Citigroup, Bank of America, HSBC and JPMorgan and well ahead of Royal Bank of Scotland, the current British heavyweight.

Source: Canadian Banks & Insurance