Barclays to axe staff in corporate banking

Barclays Dubai

Barclays will dismiss about 150 staff in Dubai as it restructures its Middle East corporate banking business, a person with knowledge of the matter said.

Bloomberg News reports that the bank will close its offices at Emaar Square and relocate bankers and support staff to its office at Dubai International Financial Centre, said the person, asking not to be identified as the dismissals aren’t public. Barclays will keep its corporate branch in Abu Dhabi and wholesale banking license with U.A.E. Central Bank, the person said.

Barclays Chief Executive Officer Jes Staley plans to eliminate 1,200 jobs worldwide and shut securities operations across Asia, people with knowledge of the matter said last month.

To access the complete Bloomberg News article hit the link below:

Barclays Said to Restructure Middle East Corporate Banking Unit

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