Barclays says in Sumitomo wealth management talks-FT

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LONDON, June 17 | Tue Jun 16, 2009 8:26pm EDT

LONDON, June 17 (Reuters) - Barclays (BARC.L) is in regular talks with its Japanese investor Sumitomo Mitsui Banking Corp (8316.T) over a wealth management alliance in Japan, the head of the British bank's wealth management division said in an interview published on Wednesday.

"We want to bring the client capacity of Sumitomo Mitusi together with the product and global reach of Barclays Wealth," Barclays' Tom Kalaris was quoted as saying by the Financial Times.

Sumitomo Mitsui, Japan's third-largest bank, invested 500 million pounds ($822.4 million) in Barclays in July 2008, giving it a 2 percent stake at the time.

Kalaris also said Barclays Wealth was interested in further global acquisitions after its purchase of Lehman Brothers' North American private investment management business last September, without giving details. (Reporting by David Milliken; Editing Bernard Orr) ($1=.6080 Pound)

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