Macquarie shuts US, European cash equities business

By Aidan Gregory
29 Oct 2019

Australian banking group Macquarie is closing its cash equities business in Europe and the United States and has signed a cooperation agreement partnership with Kepler Cheuvreux, the French brokerage.

Macquarie currently has around 700 staff in cash equities and it expects to cut around 100 jobs in London, New York and South Africa, according to a source familiar with the matter. The result will be a cash equities business refocused on Asia-Pacific, and a reduced presence on ...

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