CIMB trims Hong Kong IB and equities

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By John Loh
18 Jan 2016

CIMB has let go 32 staff in Hong Kong, mostly in investment banking and equities, as the Malaysian lender continues its three year cost-cutting drive that began in 2015.

The layoffs were made across different levels and functions, according to sources. There are still 110 staff remaining in Hong Kong, with the retrenchment affecting about 25% of CIMB’s equities workforce in the city.

In an emailed statement seen by GlobalCapital Asia, CIMB group CEO Zafrul Aziz said the ...

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