Job Losses - 3 Firms Said To Let Staff Go

Axe In Wood

The bloodletting continues.

Deutsche Bank’s Casey Talbot, co-head of credit sales for the Americas, left the company this week along with at least three other debt salesmen, people with knowledge of the situation said.

Bloomberg reports that Talbot also was head of investment-grade bond sales for the Americas at Frankfurt-based Deutsche Bank. Fellow senior credit salesmen Pat Iossa and Michael Curry were pushed out this week as the firm curbs executive pay, said the people, who requested anonymity because the departures haven’t been announced.

In the meantime, Bloomberg reports that Nomura is considering closing Angel Lane Principal Strategies, which speculates on markets with capital provided by the lender, three people with knowledge of the talks said.

The review of the division’s future may come within two weeks, said the people, who declined to be identified because a decision hasn’t been reached. The review isn’t related to ALPS’s performance, one of the people said. The unit cut about 15 jobs in London this week, the people said.

Finally, Bloomberg reports that Citigroup is firing some small-business bankers in the U.S. as CEO Michael Corbat cuts costs in an area where competitors are hiring.

The U.S. retail banking unit is 'realigning', Catherine Pulley, a spokeswoman for New York-based Citigroup, said Thursday in an e-mailed statement. She declined to say how many bankers were being fired.

Deutsche Bank Debt Salesmen Said to Go Amid Pay Overhaul

Nomura Said to Cut Team of Proprietary Stock Traders

Citigroup Fires Small-Business Bankers to Cut Costs

image: © Torpe

Best place to workThe Best Firm of the Last Decade is...

Register for Financial Markets News Alerts