Jefferies is reportedly searching for a potential buyer for its UK wealth management business.

A source familiar with the matter said the firm was “exploring options” in relation to its UK private client wealth business, one of which was a possible sale. This business line reportedly manages just over £1 billion in client assets.

The New York Stock Exchange-listed global financial services company operates a number of service lines in the UK, including investment banking, asset management, and research.

A spokesperson for Jefferies declined to comment.