Chips fall in Asia for Barclays as IB and equities cut

barclays 230
By John Loh, Narae Kim, Shruti Chaturvedi
21 Jan 2016

Barclays beat a hasty retreat this week from the bulk of its investment banking operations in Asia, shuttering offices in multiple countries and slashing hundreds of jobs amid a wider global cull in costs and personnel. It did not pull any punches, with the cuts stretching across the equities, loans and bonds products. John Loh reports.

Barclays’ bankers in Asia were told on Thursday morning that they were being made redundant. There were even reports of large groups of staff being ushered into a room and told the news en masse.

High profile cuts include Jon Pratt, head of banking for Hong ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial