Wells Fargo Cuts Dozens of Fixed-Income Research Analysts
- Bank also plans to scale back on distribution of research
- Reductions are part of CEO Scharf’s attempt to cut expenses
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Wells Fargo & Co. cut dozens of fixed-income analysts and is scaling back how it distributes research to clients, part of a push to simplify operations and lower headcount, according to people familiar with the matter.
Affected teams include those devoted to high-yield and investment-grade bond research as well as structured credit, the people said, asking not to be identified because the job cuts aren’t public.