LONDON, Nov 5 (Reuters) - Barclays is to cut about450 jobs in Britain as it axes a third of the private bankerswho look after wealthy clients and closes one of its callcentres.
The bank said on Tuesday that it will reduce the number ofrelationship managers dealing with its wealthy British customersto about 180 from 275 as part of a restructuring of its wealthbusiness announced in September.
"We are making changes to the way we service our affluentclients in the UK, and as a consequence a number of privatebanking and support roles will no longer be required," Barclayssaid in a statement.
Barclays said in September that it will stop offeringwealth-management services in about 130 countries as it attemptsto rein in costs, reduce complexity and lift profitability.
The move is part of a wider overhaul at the bank as ChiefExecutive Antony Jenkins seeks to improve its corporate cultureafter a string of scandals resulting in billions of pounds infines and compensation payouts.
The bank plans to stop its full service for customers withless than 500,000 pounds ($797,600) to invest, who will infuture receive a "lighter touch" service while private bankersfocus on the wealthiest customers.
Affected staff are expected to be notified by the end ofthis month.
Barclays Wealth employs about 8,000 staff and has about 200billion pounds of assets under management, with about a quarterof those funds owned by British clients.
The bank also said on Tuesday that it will close a contactcentre in Walsgrave, Coventry, in June next year.
The Unite trade union said that about 350 staff would beaffected by the closure and that the move would have a severeimpact on the local economy.
Barclays declined to say how many staff would go, but saidsome telephone-based jobs will move to other sites.
Barclays (BARC)
