Macquarie axes analysts amid MiFID II shake-up

'Handful' of job losses

Mike Sheen
clock • 2 min read

Australian banking group Macquarie has cut the number of analysts it employs within its European division in response to MiFID II requirements forcing investors to pay for reports and analyst reports.

The move will see Macquarie reform its research coverage of around six key sector as a "handful" of analysts depart the firm, according to the Financial Times. MiFID II, which came into force on 3 January, forces firms to unbundle the cost of broker research from other services, preventing the previously established practice of paying for research implicitly through trading commissions and business with the broker. MiFID II blog: All the latest news and analysis as industry adapts to new regulations The regulation has seen fund managers cut the number of research providers they use...

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