The Brokerage Firm CLSA Shuts Part of Its U.S. Business
ByThe Chinese-owned brokerage firm CLSA Americas unexpectedly shut down its stock research unit and related functions on Monday, sending some employees and analysts scrambling to pack their things.
CLSA’s cut in functions affects 90 people, more than half of them research analysts like Michael Mayo, who specializes in banking and has often been a colorful commentator on television and during quarterly conference calls with executives of the largest American banks. The firm was hiring senior research executives for its New York office as recently as last fall.
Reached on his cellphone late Monday afternoon, Mr. Mayo declined to comment. He did say that he was heading to a store near CLSA’s Midtown Manhattan office to buy boxes for those suddenly let go…
The Brokerage Firm CLSA Shuts Part of Its U.S. Business
