Barclays says has cut 2,700 investment bank jobs this year
LONDON (Reuters) - Barclays has cut 2,700 jobs in its investment bank this year as part of a plan unveiled in May to axe 7,000 positions over three years, the head of the business said on Monday.
Tom King, chief executive of Barclays investment bank, also said at the Barclays Financial Services Conference there were tentative signs of a pick-up in trading activity after a slow July and august.
"We are in a cyclically slower part of the year. For this quarter it's usually about September. It's very early days, but September seems to have the hallmarks of what could be a nice, attractive month, we're seeing a bit of volatility in the trading business and the issuance calendar is robust," King said.
(Reporting by Steve Slater; Editing by Anjuli Davies)
