HK-based CLSA shuts US equity research ops

New York

CLSA Ltd, the brokerage owned by Chinese financial services firm Citic Group Corp, shut down its US equity research operations on Monday, laying off more than half its workers based in the country.

The brokerage dismissed 90 US-based staff on Monday, most of whom worked in research as well as a few traders, according to Simone Wheeler, a spokeswoman for Hong Kong-based CLSA.