According to a tipster:
"Fairly substantial cuts at BMO Capital Markets. Rumored to be 5% of headcount. Across all product groups and industry verticals."
This might not be a very good day to be a Quebecois investment banker...
How does Christian Sewing have 20K people left to lose?
Mmm, the smell of pink slips wafting in from Battery Park City on the warming air.
Deutsche Bank now openly contemplating what an investment bank looks like without investment bankers.
Unless you work in compliance, the days of champagne, caviar, and blow are back!
Margins require sacrifice, even if you are raking it in hand over fist.
Sounds like a few dozen people are coming around to the idea that UBS sucks.
Bright side: Those not good enough even for the French bank could also try for a certain German one.