Barclays is reportedly in the process of drawing up plans to cut hundreds of jobs.

According to sources cited by Reuters, the bank is looking to cut costs at a time where it is considering a wider review of its strategy.

One of the sources cited claimed that as many as 400 jobs could be cut from Barclays’ domestic retail business, while the other said that an as-yet undetermined number of investment bankers could be cut.

The report noted that the two rounds of cuts were not related, and that some retail staff could be redeployed or take voluntary redundancies.

In comments to the newswire, a spokesperson for Barclays said: "We do not comment on speculation. We regularly review our operations to ensure we meet the evolving needs of our customers and clients in an efficient and effective way."

Elsewhere, Barclays has hired JPMorgan Chase's Christian Oberle to oversee its relationships with private equity firms as the head of its financial sponsors group in the Americas.

Oberle will report to Jean-Francois Astier who leads the group globally and has long held ambitions to grow the bank's relationships in private equity.

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