Barclays has constructed an elaborate schmuck-insurance policy as part of its plan to possibly hive off its payments business. On Thursday, the 40-billion-pound UK bank announced a deal that could give Brookfield Asset Management 10% of the division in return for the private-capital group's help in growing the unit,

Barclays Plc will work with Brookfield Corp. to offload some of its payments business, as part of the lender’s push to boost returns.

Barclays Plc (NYSE:BCS) is nearing a sale of a stake in its payments unit to Brookfield Asset Management (NYSE:BAM). A deal could happen as soon as this week, according to a Bloomberg report on Tuesday,