Goldman axing nearly 30% of Asia investment banking jobs: sources

London

GOLDMAN Sachs is cutting almost 30 per cent of its 300 investment banking jobs in Asia outside Japan in response to a slowdown in activity in the region, two sources familiar with the matter said.

The Wall Street bank is reducing the number of bankers working on mergers and acquisitions (M&A), and equity and debt capital markets deals, the sources said. It will be left with slightly more than 200 bankers across Asia.