Job cuts in financial services surge as “Wall Street executives are trying to shrink staffing levels as profits remain under pressure,” says Integrity Research.
Chief executive officer Frank Troise claims ITG’s top 100 global accounts have returned to the business following record SEC fines.
ITG reports a loss of $2.5 million in the first quarter this year, with overall revenues down 17%, as firm battles with former CEO over ‘unfair dismissal’.
Citadel Securities holds top spot for total OTC non-ATS dark trades, 33% higher than second biggest KCG.
First quarter trading revenues plummeted 53% compared to the first quarter in 2015.
Bank reports declines in revenues across the business amid “challenging market conditions.”
Nomura confirmed a new strategy to cut costs across the business, as revenues plummet and the business suffers a quarterly loss.
Corporate and investment banking division saw a difficult first quarter this year, as profits fell to £701 million.