Canaccord Genuity is planning to make its entire nine-strong fixed-income team in the City redundant as part of wider staff cuts announced in February by the Canadian investment bank that will see 125 staff let go globally – with more than a quarter of those in London.
A memo to Canaccord staff seen by Financial News outlined the proposed cuts, which also see eight of the firm's 75 investment banking staff in London, and seven of its near-100-strong securities team in the UK capital, put at risk of redundancy, along with 10 support staff.
