Barclays To Retreat From Nine Countries To Focus On US And UK

Barclays has announced it will close offices in nine countries around the world, as the UK bank aims to refocus its investment bank on the U.K. and the U.S.

The firm outlined its plans to trim up to 1,200 staff by closing several operations, with the Asia Pacific region bearing the brunt of the cuts.

Two-thirds of Barclays' cuts will hit its Asia operations

The UK-based lender said it will pull out of Australia, South Korea, Taiwan, Indonesia, Malaysia, Philippines and Thailand. In a letter and...