Collins Stewart Tullett, the UK broker and fund manager, has started slashing jobs, just days after completing the £125m (€182m) acquisition of rival broker Prebon.

According to sources close to the firm, up to five senior level Prebon staff have been suspended, and up to 30 of Prebon's technology division are to be made redundant. Tim Dennis, global head of business development is believed to be among those who have left, according to sources close to the firm.