National Westminster Bank PLC said it sold two Paris-based fund management units to the French division of Banque Bruxelles Lambert SA for an undisclosed sum.

Natwest said it sold Natwest Sellier Patrimoine and NatwestSellier Gestion, which combined had net assets of $5.4 million.

The sale follows the disposal earlier this month of Natwest's Australian fund business, which was sold to National Australia Bank Ltd., also for an undisclosed price.

The sale comes amid speculation that Natwest is preparing to sell its investment banking arm, Natwest Markets - which was restructured during the summer-and focus on its core banking business.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.