Jefferies Said to Cut Up to 40 Positions in Hong Kong, China
- Firm said to refocus on mergers and equity capital markets
- Investment bank reported drop in fixed-income revenue
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Jefferies Group, the investment bank that reported slumping trading revenue this week, is cutting as many as 40 positions in China and Hong Kong as it refocuses on advisory businesses, said people with knowledge of the matter.
The New York-based bank plans to eliminate 30 to 40 positions across research, sales and trading, said the people, who asked not to be identified because the details aren’t public. Discussions on the cutbacks have already started, the people said.