Property analyst Andrew Causer has today been made redundant by JP Morgan, as the US bank cut back on European equities staff in its London office.
Causer moved to JP Morgan from HSBC four years ago with his colleague Andrew Penny.
The US bank is thought to be planning to shed some 3,000 jobs worldwide and its cuts follow similar moves by Credit Suisse First Boston, Merrill Lynch and Goldman Sachs.
The downturn in the world’s financial markets is taking its toll on investment banking and JP Morgan’s own analysts have forecast that the industry needs to shed 17% of staff globally.
EGi News 14/10/02
