Barclays Joins Deutsche Bank in Fixed-Income Trading Cuts
- U.K. bank cut several sales, trading roles in Tokyo last week
- Comes as euro rivals also face headwinds from negative rates
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Barclays Plc is making cuts to its Japanese fixed income business as Chief Executive Officer Jes Staley slashes costs globally to counter weak profits at its markets unit.
The British bank is parting ways with several salespeople and traders in Tokyo, according to people familiar with the matter who asked not to be named discussing information that isn’t public. The reductions were made in the last week, the people said.