Barclays Bank has bought Indexchange, one of Germany's largest exchange traded funds businesses with €15.2bn ($19.2bn) in assets, from parent HVB. As Financial News reported last week, it will be combined with iShares, Barclays Global Investors' exchange traded offering.
The acquisition opens up an established network across Europe for the UK fund manager's exchange-traded fund products. iShares has €174bn under management, but just €10bn of that is in Europe.