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Barclays Asia FX trading head leaves as bank cuts costs

·1-min read
LONDON, UNITED KINGDOM - 2020/08/31: Barclays Bank branch seen in central London. (Photo by Dinendra Haria/SOPA Images/LightRocket via Getty Images)
Barclays Bank branch in central London, 31 August 2020. (PHOTO: Dinendra Haria/SOPA Images/LightRocket via Getty Images)

By Suvashree Ghosh

(Bloomberg) -- Barclays Plc asked Pritpal Gill, head of foreign exchange trading in Asia Pacific, to leave after about 18 months with the British lender.

Gill, head of G10 foreign exchange and foreign exchange options trading in the region, is departing as part of cost cutting measures across the bank’s corporate and investment divisions, according to people with knowledge of the matter, who asked not to be identified because the matter is private.

Gill joined Barclays in January 2019 and was based in Singapore. Before that, he ran a family office and also worked at Citigroup Inc. A representative for Barclays in Mumbai declined to comment.

In January, Barclays embarked on a plan to trim about 100 senior jobs, mostly in trading roles across its corporate and investment bank, as it sought to rein in costs. Senior executives including Jonathan Kitei, head of securitized product sales for Americas, and Anindya Das Gupta, head of trading in India, were part of those cuts.

Europe’s largest banks are resuming plans to cut thousands of jobs after putting dismissals on hold to show support for employees affected by the coronavirus outbreak across the continent. Barclays has about 69,000 staff working remotely until at least the end of September. The bank plans to inform them individually when to come back, with return dates likely to span several months from October.

(Updates with details in last paragraph.)

© 2020 Bloomberg L.P.