CLSA shuts US equity research arm

REUTERS: The equities research division of the Americas unit of Hong Kong-based brokerage CLSA has been shut down, a spokeswoman said on Monday, clarifying an earlier report that the entire Americas section would be closed.
Simone Wheeler, a Hong Kong-based spokeswoman said that CLSA Americas will no longer have its equities research division which employed banking analyst Mike Mayo, known for tough questions he poses to management teams of big banks including Citigroup, Bank of America and JP Morgan Chase.
Instead, CLSA will focus on U.S. and Asian trading and order execution along with Asian sales.
According to its website, CLSA has 1,500 employees located in 25 cities across Asia, Australia, the Americas and Europe.