Arqaam closing office, joining other brokers paring back in SA
Macquarie Group, Deutsche Bank, Credit Suisse and Citigroup are all cutting back operations in the country
03 December 2019 - 16:37
Arqaam Capital is closing its SA office, a person familiar with the situation said, as the Dubai-based investment bank joins other brokers paring back operations in the continent’s financial-markets hub.
The company, which opened an office in Johannesburg in 2014, said on Monday that it is ceasing research coverage in SA, according to a note to clients seen by Bloomberg. Customers haven’t yet been informed that the office, which employs about 17 people, is closing, the person said, declining to be identified because an official notification on it hasn’t been sent out...
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