Barclays Global Investors
is cutting 300 jobs as part of a broader headcount reduction being implemented by its London-based parent, Barclays PLC. BGI's iShares
business led by Lee Kranefuss
, however, is not affected by the reduction, a person familiar with the situation told The MFWire
"We can confirm that we have begun a process to reduce headcount across some parts of investment banking and investment management to ensure that we are
appropriately sized given the current market conditions," a Barclays spokesperson said in an e-mailed statement. "We will continue to
hire selectively across those parts of the business that are growing."
Aside from cutting 300 jobs at San Francisco-based BGI, Barclays is slashing 1,300 jobs at its investment bank unit, Barclays Capital, and 500 at its wealth management division.
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