I believe this was widely anticipated on the street. Anyone know how many that portion employs?
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Bloomberg article says it will impact about 100 employees.
Yes. A few years ago it was a crown jewel business. It goes to show today's darling may be tomorrow's dog.
less than 50. Its a handful of public finance bankers and support staff that originate and distribute municipal bonds. Maybe a couple more traders that probably get absorbed into the credit desk if they haven't already. Its pretty amazing because a couple of years ago, it was a crown jewel business.
Hopefully couple of thousand :D