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* UK bank to cut 70-90 investment bankers in Asia-sources
* Bank will keep "significant and large" investment bank-CEO
* CEO says comfortable with capital position
By Lawrence White and Steve Slater
HONG KONG/LONDON, Jan 24 (Reuters) - Barclays wantsto remain a big player in investment banking even though theBritish bank is cutting costs and jobs in that business,including at least 70 in its Asian division.
The bank has not finalised the number of jobs to go in Asiabut it could be as high as 90, according to people familiar withthe plans, who declined to be identified because the matter isconfidential.
Antony Jenkins, who took over as Barclays chief executive atthe end of August, is expected to cut about 2,000 investmentbanking jobs globally in a review of the bank's business due onFeb. 12. The bank told UK staff of possible cuts earlier thisweek.
"Barclays will continue to be a universal bank and it willcontinue to have a very, very significant and large investmentbank as part of that universal banking model," Jenkins told CNBCin an interview from Davos on Thursday.
He declined to specify the scale of cuts in Asia, but said:"We still see opportunities for us in Asia in investment bankingand equities, but we also see opportunities for us in otherparts of the world so it's a relative, rather than an absolutestatement.
"We live in a world where capital is scarce and we have todeploy it against our best opportunities."
Banks globally are having to cut costs to cope with thismore hostile climate, partly the result of tougher regulation onthe industry after the financial crisis.
The CEO said more regulation and nationalism and a tougheconomic backdrop would limit revenue growth across the industryand was forcing banks to shrink, pick areas of strength andfocus far more on cost-cutting.
The future shape and size of Barclays' investment bank isconsidered the most critical part of Jenkins' review as thebusiness contributes more than half of group profits.
Jenkins took over from Bob Diamond, who left the bank aftera scandal over interest rate rigging for which Barclays wasfined $450 million.
The CEO is also attempting to drive through a change inculture and standards after a string of scandals, includingBarclays' fine for manipulating Libor interest rates, andmis-selling problems in Britain.
"The industry and Barclays got it wrong on occasions. Wewere too aggressive, we were too short-term focused and we weretoo self-serving," he said.
Jenkins said he was confident in his bank's capitalstrength, after warnings from the Bank of England that UK banksmay need to raise capital.
"We are very comfortable with our capital position throughthe course of this year. We have ongoing discussions with ourregulators so we're comfortable with our capital position."
ASIA PULLBACK
In Asia, Barclays had spent heavily to hire a team ofveteran investment bankers after the 2008 financial crisis, withthe hope of creating a business in the region that would put theLondon-listed bank in the same league as Goldman Sachs and Morgan Stanley.
But the Asian operation was hit by delays in establishingits equity business, stiffer than expected competition fromlocal firms, and a quick rebound in Asian markets that allowedrivals to regain momentum.
A spokesman for Barclays declined to comment on the scale ofcuts there.
Barclays has about 3,000-4,000 investment banking staff inAsia, out of 23,300 globally.
Barclays ranked 8th in investment banking fees earned globally last year, but was only 20th in Asia, according toThomson Reuters data.
Jenkins said his review - dubbed "Project Transform" - willhave repercussions for the bank's corporate structure.
