Barclays has announced a major overhaul in its latest efforts to simplify how the business is run. The high street lender has agreed to sell its German consumer finance arm to an Austrian bank. The deal will see its Hamburg-based division offloaded to a subsidiary of BAWAG Group, a commercial banking group with customers across Europe and the US. Barclays’ consumer bank – which offers credit cards, loans and savings to customers in Germany and Austria, and employs about 700 staff – has assets totalling €4.7billion (£4bn). Barclays did not reveal the price of the deal, but said it would get a “…
