Thursday, 24 July 2014
Last updated 12 hours ago
Nov 24 2008 | 1:42am ET
Barclays has cut its U.S. prime brokerage staff by 30% as it eyes a major contraction in the hedge fund industry.
About 100 jobs were cut at the capital markets prime services unit in New York two weeks ago. According to Bloomberg News, the layoffs were part of a restructuring to adjust for changes in the industry, and not an effort to eliminate redundancies with Lehman Brothers’ prime brokerage, which Barclays acquired from the bankrupt firm in September.
All told, Barclays said it plans to cut some 3,000 jobs in the U.S.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…