Welcome to our new website! Let us know what you think..

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Barclays eyes 2,000 job cuts in investment arm overhaul

Barclays eyes 2,000 job cuts in investment arm overhaul

Barclays is to cut up to 2,000 jobs from its investment arm as part of an overhaul of the business led by chief executive Antony Jenkins, according to reports.

The bank yesterday started a consultation process over the cuts, telling 10,000 London-based staff their jobs were at risk. It is set to inform staff in Europe, Asia and the US about further redundancies in the coming weeks, people close to the situation told the Financial Times.

Jenkins has been scrutinising the performance of the bank's divisions since his appointment as chief executive, and will unveil Barclays' new strategy alongside its annual results next month.

The FT also reported that UBS, which is cutting 10,000 jobs worldwide, is consulting on 100 job cuts in its UK investment banking arm.

Leave a comment
Citywire TV
Play Gervais Williams: the real reason to worry about Quindell

Gervais Williams: the real reason to worry about Quindell

Citywire AA-rated manager Gervais Williams has argued that sentiment is the true danger to Quindell.

Play AA-rated Lofthouse: 'maverick' tobacco settlements won't stop M&A

AA-rated Lofthouse: 'maverick' tobacco settlements won't stop M&A

Henderson International Income trust manager Ben Lofthouse shares his thoughts on recent developments in the tobacco sector in this video.

1 Play Renewable energy: what I found on my solar farm trip

Renewable energy: what I found on my solar farm trip

Renewable energy is attracting a lot of investor interest, so I headed to the UK's largest solar farm to find out more.

Your Business: Cover Star Club

Profile: Quilter Cheviot boss Baines sees more consolidation ahead

Profile: Quilter Cheviot boss Baines sees more consolidation ahead

Nineteen months on from the merger of Quilter Cheviot chief executive Martin Baines says the deal is now paying dividends.

Wealth Manager on Twitter