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Barclays latest to shut its Asian equities unit built from acquisitions

More than 200 jobs have been shed in Asia, including some in Singapore; UK bank treads path taken by BNP, CIMB and Stanchart

As early as a year ago, it was boasting of senior hires to its equities team in Asia. Last May, a senior Barclays executive told Bloomberg that the bank should turn a profit from its cash-equity business by the end of this year, but acknowledged that this business was struggling to make money for most banks.


BARCLAYS' decision to shut its Asia cash-equity business and shed more than 200 jobs in this region puts it in familiar company with BNP, CIMB and Standard Chartered, as they shut or restructure an unwieldy business that emerged mostly from assets bought around the time of the...