Barclays hiring in Asia despite cutting jobs elsewhere

Barclays, the British bank that is cutting thousands of jobs worldwide, is now hiring in Asia-Pacific to refocus its investment-banking business, according to its co-chief executive for the region.

"We have cut jobs," Asia-Pacific co-chief executive Andrew Jones said.

"We are hiring to basically fill out the business, and we adopted a new model which is more country-centric."

When asked where the firm is hiring, he said Indonesia is a place of "particular focus". The London-based bank is also expanding in capital markets in China and continues to invest in India, he added.

He did not give numbers for hiring targets.

Chief executive Antony Jenkins announced plans in May to eliminate 7,000 investment-banking jobs globally as revenue from trading fixed income, currencies and commodities shrinks.