News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Icap cuts 50 staff in Brazil as losses continue

Rivals say the losses will be from the UK-based interdealer broker’s São Paulo and Rio de Janeiro offices

Icap, the UK interdealer broker, laid off 50 members of staff yesterday in Brazil as its Brazilian operations continue to lose money.

Rivals told Financial News that Icap had cut 50 of its staff in São Paulo and Rio de Janeiro. An Icap spokesman in New York declined to comment.

WSJ Logo