The corporate business restructuring in the Middle East is part of a wider global shake-up of Barclays' global business after Jes Staley took reins as CEO in December. The bank will cut about 1,000 jobs in investment banking worldwide and close its cash equities business in Asia. In 2014, Barclays sold its retail banking operations in the UAE to Abu Dhabi Islamic Bank (ADIB) for an estimated AED650m ($177m).