Barclays is believed to be challenging Hargreaves Lansdown with a possible offer for TD Direct Investing, one of the UK's largest retail stockbrokers, according to a report.
According to Sky News, the bank has made an offer for retail stockbroking firm TD Direct Investing, which is currently owned by Canadian bank Toronto Dominion. If the deal goes through, it is likely Barclays will then look to merge it with its own stockbroking division, Barclays Stockbrokers, creating a challenger to current market leader Hargreaves Lansdown. TD Direct has around 200,000 customers and £13bn in customer assets under administration. The move could be the first acquisition for Barclays since Jes Staley took over as new chief executive of the firm last October. Howe...
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