Barclays sells index assets to Bloomberg

 
Billy Bambrough
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Barclays bought the index and analytic assets from Lehman Brothers in 2008 (Source: Getty)

Barclays has offloaded some of its analytics and index assets to financial data firm Bloomberg for £520m, as part of plans to focus on its core business.

Barclays Chief Executive Jes Staley said the deal was further evidence of the work the bank is doing to manage down its noncore assets.

The deal includes benchmark indices and risk analytics, and the widely used Barclays US Aggregate Bond Index, some of which was acquired from Lehman Brothers in 2008.

The deal is expected to be completed by mid-2016.

Barclays will share co-branding on the benchmark indices with Bloomberg for at least five years.

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