Barclays’ head of covered bond structuring, Americas, Riz Sheikh is among the people let go by the bank during its latest round of layoffs.

A source familiar with the situation said it was uncertain if someone would be replacing Sheikh given the reduction the bank is undergoing.

The layoffs are part of the Bank’s broader plan, announced last week, to cut as many as 400 investment banking jobs, with 275 of the cuts taking place in the Barclay’s New York City offices, according to a Finanical News report. Barclays’ fixed income business was expected to take the biggest hit.   

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