It's not so long ago that Cantor Fitzgerald was hiring for its office in London. This appears to have changed. Since the December 2015, the UK's Financial Conduct Authority Register indicates that 10% of Cantor's registered employees in London have left without new jobs to go to. Many of them were hired in the go-go days of 2013-2014 and were pretty senior.
The exits include Charles Tan, a director of investment companies research, who'd worked at Cantor for three years after joining from analysis firm Sanderson House. They also include Franz Bucher, an MD in the high yield and distressed group, who joined in 2013 from Raiffeisen Bank International. Mathew Holden, Cantor's European head of ETF trading has gone. So has Connie Daly, an equities sales trader who worked there for nearly 12 years, along with Jamie Duggan, a Delta One broker, Andrew Worne, a stockbroker, and Sophia Britel, a structured credit sales analyst.
The departures echo the resignation of Gordon Neilly, Co-CEO of Cantor Fitzgerald Europe in May. Angelo Sofocleous, a former equity trader from Panmure Gordon, is now Cantor's sole European CEO. Sofocleous joined in 2012 when Cantor hired 17 people in London from Canaccord Financial.
Cantor didn't respond to a request to comment on its European exits. The company's European accounts for the year ending December 2015 indicate that it made a profit of $2m compared to a loss of $11m the previous year. Cantor also indicated that it closed its Milanese and Parisian offices in 2015, a move it may come to regret if Britain votes to leave the European Union.
Photo credit: Exit by Fe Ilya is licensed under CC BY 2.0.