Barclays eyeing expansion of Mideast workforce

June 3, 2014 1:10 am

The UK’s second-largest bank by assets, Barclays is planning to boost hiring and increase lending at its corporate banking business in Dubai, as the lender seeks expansion in emerging markets, Bloomberg has reported. The UK lender, which is cutting 7,000 investment banking jobs over the next two years, plans to increase the number of corporate bankers in the Gulf by more than 10% this year, Rezwan Mirza, head of that business in the UAE and Gulf countries, said. Operations in the GCC won’t be affected by the plan announced on May 8 to cut a quarter of employees at the investment bank and 19,000 jobs across the company, Mirza added.