US broker Clear Street is moving to cut down its UK-based team just eight months after bolstering the unit to support its expansion in the region following its entry in December 2024, The TRADE can reveal.
According to several sources familiar with the matter, among the key departures are Matthew Cyzer, head of markets, execution; Phillip Hylander, managing director, execution; and Luke Holmes, managing director, sales trading.
Others are expected to take place in the coming days, The TRADE understands.
Clear Street did not respond to a request for comment when approached by The TRADE.
Read more – Clear Street appoints trading experts to senior positions as it bolsters UK operations
The trio were appointed in February of this year alongside Stuart Holt, managing director, client distribution and strategy, equities and Tarquin Orchard, global head of event-driven strategies as the firm looked to expand its UK presence following its launch and FCA approval in the region in December last year.
Clear Street has been vocal in its attempts to expand in the UK. Just last week Financial News reported that the firm was looking to target wins with UK asset managers and hedge funds by leveraging its newly appointed team.
Jacinda Fahey, CEO of Clear Street UK and Europe, commented in February: “we are building a sustainable business in the UK with scalable infrastructure to ensure we continue delivering innovative solutions tailored to our clients’ needs. These leadership appointments reflect our dedication to hiring top-tier talent and driving long-term success.”
More to follow…