Barclays Said to Restructure Middle East Corporate Banking - Bloomberg Business

Barclays Said to Restructure Middle East Corporate Banking - Bloomberg Business:

"Barclays Plc will dismiss about 150 staff in Dubai as it restructures its Middle East corporate banking business, a person with knowledge of the matter said.
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 because 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 Plc 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. The former JPMorgan Chase & Co. banker has also imposed a hiring freeze and is restructuring the wealth-management business to shore up earnings growth, people familiar have said."



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