Riz Sheikh, Barclays’ head of Americas covered bond structuring, is among the staff that the bank has been laying off in its investment banking divisions, The Covered Bond Report understands.

A Barclays spokesperson declined to comment. Barclays has widely been reported to be cutting hundreds of investment banking jobs at operations in various countries.

At Barclays, Sheikh worked on US dollar covered bonds with Anne Daley, managing director on the investment grade syndicate desk in New York and the lead syndicate banker for US targeted covered bond issuance, and DCM colleagues such as Punit Dholakia and Rosanne Park, all of whom are still at the bank.

US dollar covered bond supply in 2013 was down by around half compared with the previous year, and there has been no US dollar issuance this year, while US covered bond legislation remains elusive.