Just three weeks after Barclays announced plans to slash 100 private banker jobs, Charles Stanley is already in talks to acquire an undisclosed number of Cardiff-based Barclays investment managers, with plans to open new office in the Welsh capital.

A spokeswomen for the UK wealth manager confirmed the opening of the new office, scheduled for April next year, and said it is currently in discussions with Barclays Wealth and Investment Management but declined to comment further.

Currently, Charles Stanley has around 400 investment managers across 32 offices in the UK.

Barclays Wealth announcement of job cuts comes with the groups’ new strategy as it looks to further streamline its wealth management services.

Barclays has also announced that it is to stop offering wealth management services in 130 countries to focus on a core 70 countries.