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* Around 2,000 investment banking jobs could go in cut backs
* Review of investment bank central to new CEO's overhaul
LONDON, Jan 22 (Reuters) - Barclays has launched aconsultation with staff in its investment bank whose jobs are atrisk following a strategic review by new Chief Executive AntonyJenkins, the bank said on Tuesday.
Jenkins, who took over in August having previously runBarclays' retail operations, is revamping the bank following thedeparture of Bob Diamond when the bank was fined forinterest-rate rigging.
Media reports have said Barclays is expected to cut around2,000 investment bank jobs as part of a restructuring to beunveiled on Feb. 12, when the bank publishes its 2012 results.
Investment banks around the world are taking a harder lineon pay and axing jobs to cope with a regulatory crackdown afterthe financial crisis that has made them less profitable than inthe past. Some analysts believe they will need to cut between 30to 40 percent of staff.
Hundreds of thousands of jobs have already gone at UBS, Credit Suisse, Deutsche Bank,Royal Bank of Scotland, Barclays and BNP Paribas.
The future shape and size of Barclays investment bank isconsidered the most critical part of Jenkins' review, as thisbusiness contributes more than half of group profits.
Barclays is in the process of finalising bonuses for stafffor last year. Overall, pay for investment bankers for 2012 isexpected to fall by between 10 percent and 20 percent onaverage, sources have told Reuters.
Barclays was fined $450 million in June for rigging interestrates, which forced its chairman and chief executive to quit.
