henry copeland: I left in '91, thinking eletronic trading would kill bond salesmen in a couple years pllqt.it/GltOjL
Wall Street’s Old, Unwanted Bond Salesmen Find a Home in Chicago - BloombergIn the new Wall Street, there are simply fewer jobs. Post-crisis rules to curb risk-taking and shrinking bond-trading revenues have compelled banks to cut costs. Electronic trading platforms have let clients bypass salespeople. In the past five years alone, the biggest global firms have cut almost 10,000 trading and investment banking jobs, according to research firm Coalition Ltd. Older, higher-paid traders and salespeople have been especially vulnerable.