Barclays is embarking on a plan to cut about 100 senior jobs, mostly in trading roles across its corporate and investment bank, as the British lender seeks to rein in costs. A spokeswoman for Barclays in London declined to comment on the cuts, which are among the first to be implemented by a major investment bank in 2020. Last year saw several European lenders reshape their securities units, eliminating thousands of roles amid increasing competition from US peers and a lacklustre home market. The corporate and investment bank outperformed Wall Street peers in the third quarter, as revenue from fixed-income and equities trading advanced. Societe Generale and Deutsche Bank are among other European lenders who have recently cut headcount.

Source: The Irish Times January 17, 2020 09:56 UTC