Multinational financial and banking company, Barclays is planning to shut its equity business in India as the part of British bank’s endeavors to cut costs and increase profits.
Equity business of the company Barclays in India, which was curved out in 2011, which includes services for institutional investors and research work and it also employs about two dozen people.
The conclusion of Equity business of India is part and strategy of New Chief Executive Jes Staley’s to cut down costs.
The sources did not want to be named as the development is not public yet.
