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Barclays to hire more people in Asia-Pac

Barclays, which had earlier announced job cuts worldiwde, is now planning to hire more people in the Asia-Pacific region with an intention to refocus its investment-banking business. The bank’s co-CEO for Asia-Pacific, Andrew Jones, said the hiring is basically to fill out the business and the bank had adopted a new model which is more country-centric. He said Indonesia is a place of ‘particular focus’ and the bank is also expanding in capital markets in China and continues to invest in India. He didn’t give numbers. Earlier, CEO of the bank Antony Jenkins had put out plans to eliminate 7000 investment-banking jobs globally as revenue from trading fixed income, currencies and commodities shrinks. The plan will bring the number of jobs to be cut across the firm by 2016 to 19,000.

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