Adrian Elwood has resigned as property analyst at stockbroker Teather & Greenwood, leaving the company with no property research team.
Head of research Mike Drozd said that Teather was making further redundancies after last year’s cuts, including in research.
“Given the poor market conditions we had to look at our cost base and as a result of that we acted accordingly,” he said.
However, he stressed that Elwood had resigned.
Asked if Teather wanted to continue its property research, Drozd replied: “We’ll probably look at the situation again once the market conditions improve.”
Charterhouse Securities, part of ING Barings, also recently stopped researching the quoted property sector.
EGi News 16/08/02
