Barclays Bank is to acquire fiduciary services company Walbrook Group.
The Irish Stock Exchange was told this morning that the acquisition will be acquired through existing cash resources.
Walbrook will be integrated into Barclays' Wealth Advisory business where it will build on existing Barclays Wealth operations in the Channel Islands, Isle of Man, and Hong Kong.
As of December 2006 the company had gross assets of £13.5 million and £8.6 billion of client assets. Walbrook Group is based in Jersey, Guernsey, the Isle of Man and Hong Kong.