Barclays is cutting nearly 150 people from its corporate banking unit in Dubai as part of a restructuring of the business in the Gulf emirate, a source familiar with the matter said on Wednesday.

The bank will close its office in the Emaar Square area of the emirate and move some staff to its branch in Dubai International Financial Centre, the source said.

Barclays has been reviewing its business globally after the appointment of Jes Staley as chief executive in December 2015.

A spokesman for the bank said it was aligning its Middle East corporate banking business to international locations, such as the United States, as well as to the bank's regional investment bank and wealth and investment management business.

"We are adopting an operating model that better leverages our global capabilities and centres of excellence," the spokesman added.

The job cuts were reported earlier on Wednesday by Bloomberg. – Reuters