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Macquarie cuts up to 120 jobs after agreeing Kepler equities deal

Australian banking group will have access to Kepler Cheuvreux’s European equity clients from next year

Macquarie, the Australian banking group, is cutting around 120 jobs as it retreats from stock trading in Europe and the US.

The bank is stopping equities sales, trading and research in the regions and is telling those staff affected today, according to people familiar with the situation.

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