Large investment banks are struggling with the supplementary leverage ratio
Morgan Stanley is to cut 1200 fixed income
and back office jobs including some 470 traders and salespeople
from its fixed income, currency and commodities (FICC) unit
following weak results in the third quarter, according to
The US bank is said to be cutting across
its international offices with many of the cuts hitting its
main centres in New York and London, in a bid to scale the firm
to suite the "current market".
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