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Tiger Global now has 2.5% stake in Barclays

U.S. hedge fund Tiger Global Management has invested more than $1 billion in Barclays. Tiger Global now has around 2.5% stake in the British Bank and it has bought most of its stake in November. Tiger Global Management is also extending a vote of confidence in Barclays CEO Jes Staley’s plans to strip back the bank to concentrate on its U.S.-led investment banking operations and its British-based consumer banking business. Barclays is cutting up to 100 senior jobs at its investment banks. In 2016, around 1000 jobs were cut from Barclays’ investment banking business worldwide in an attempt to reduce costs and boost revenues. Barclays cut a total of 10,000 employees that year alone.

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