Following the proposed takeover of Woolwich by its parent bank, Barclays, Barclays Global Investors (BGI) is in pole position to secure the management of assets totalling up to £2.7bn (€4.5bn).

Around £480m of the total is represented by the Woolwich pension fund, which has just chosen BGI's UK passive rival Legal & General to handle 60% of its assets, including bonds.