(Repeats to widen distribution)
* Bank to close Asia cash equities business -memo
* Around 450 jobs to go in Asia alone-source
* Barc exits investment banking in at least 8 countries-memo
By Anshuman Daga and Lawrence White
HONG KONG, Jan 21 (Reuters) - Barclays has embarkedon a fresh round of job cuts to its investment banking businessworldwide on Thursday which would result in a complete exit fromcash equities in Asia, an internal memo showed, as new ChiefExecutive Jes Staley wields the axe in a bid to slash costs andboost returns.
The harsher-than-expected cuts are among the most sweepingworldwide culls by an investment bank in recent years, as Staleyin common with peers at other European lenders moves to reducecosts amid a tough global environment for banks.
Barclays will shutter its investment banking businesses incountries including Australia, Indonesia, Malaysia, Philippines,Russia, South Korea, Taiwan and Thailand, the memo said, withthose markets to be covered from financial hub cities in theirrespective regions.
A spokesman for Barclays in Hong Kong declined to comment onthe cuts because they are not public.
With 10 of Europe's biggest lenders announcing 130,000 joblosses since June, bank chief executives are looking to cut inbusinesses where they lack scale to focus on more profitablemarkets.
The reduction in jobs are also in response to the turmoil inglobal equities and commodities markets, which is making itharder for investment banks to make money in the traditionalbusiness lines.
The cuts in the London-headquartered bank were announced tostaff in meetings on Thursday across the Asia-Pacific region,according a source with direct knowledge.
"Asia is bearing the brunt," the source added.
The total number of jobs to be shed in the latest Barclaysreduction is unclear, but a source with direct knowledge of thematter said the Asian equities cuts alone could total about 200people. A separate source with knowledge of the cuts said theAsia total would be 450 people.
The Financial Times previously reported that Barclays wouldshed as many as 1000 jobs worldwide in the latest cull.
Barclays is also exploring the sale of its global preciousmetals business, the memo said, as well as shuttering cashequity sales across Central Europe, the Middle East and NorthAfrica, the memo showed.
The lender will also end its onshore markets coverage inBrazil.
Reuters on Jan. 5 reported the cuts in the Asia investmentbanking business and exits from South Korea and Taiwan, asBarclays retreated from peripheral Asian businesses to focus onhubs including Hong Kong and Singapore. (Reporting By Anshuman Daga and Lawrence White, additionalreporting by Xiaowen Bi; Editing by Denny Thomas and StephenCoates)