National Bank of Canada cuts staff in capital markets division
BNN Bloomberg
National Bank of Canada has cut a number of jobs in its capital markets business, according to people with knowledge of the matter.
The move included reductions in the equity research and sales and trading divisions, the people said, speaking on condition they not be named because they aren’t authorized to discuss the matter publicly.
Marie-Pierre Jodoin, a spokesperson for the Montreal-based bank, said it has made “a few adjustments to our Financial Markets structure based on the ongoing assessment of business needs and priorities.” She didn’t provide a number.
The layoffs at National Bank, Canada’s sixth-largest bank, come amid a wave of job cuts at other Canadian lenders over the past few months that have totaled at least 6,000. Bank of Montreal, Royal Bank of Canada and Bank of Nova Scotia have announced layoffs representing 2 per cent to 3 per cent of their workforces.
