Barclays Asia cash-equity unit finally turns profit
Recent cost cuts should allow it to make profit by end next year, seven years after it started the business
Hong Kong
BARCLAYS plc is on track to make money from its cash-equity broking unit in the Asia-Pacific region by 2016, seven years after it started the business.
Recent cost cuts should allow the UK's second largest bank by assets to turn a profit in Asian cash equities by the end of next year, said Vikesh Kotecha, the firm's Asia-Pacific head of equities trading. Mr Kotecha said that Barclays has also refocused on its most profitable clients in a business that includes electronic and portfolio trading, exchange-traded funds
