Betaville |
| Posted: 29 Jun 2016 12:25 AM PDT There is more gloomy news from London's small cap stockbroking industry. I hear Daniel Stewart, which has seen its shares suspended, has this week begun a major cull, possibly about a third of its work force. Whether this latest purge is connected to Brexit or just an extension of the general malaise in the industry remains to be seen. I asked Peter Shea, chief executive of Daniel Stewart, about the job losses but he declined to comment. However, one person close to the matter said the redundancies being made are in business areas not yet generating a profit. Some of Daniel Stewart's largest shareholders, such as Rob Terry's Quob Park Estate vehicle, are said to be supportive of the restructuring as it may make the whole business profitable earlier than expected. Let's see...  |
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