One director each from the two London-headquartered banks met to discuss the possible benefits of merging, the FT said. The conversation that took place was part of a wider effort by Barclays to improve its financial performance, according to the report.
Both Barclays and Stanchart declined to comment, said the FT. The two companies did not immediately respond to a request for comment from CNBC.
Sherborne holds a more than 5 percent stake in Barclays and is one of the bank’s largest shareholders.