S&P Capital IQ is laying off about 50 analysts amid a restructuring of its equity-research group, while it also closes a fund-research division. Michael Thompson, a managing director at S&P Capital IQ, took over the equity-research business this week. He said Thursday the group is “still a sustainable business and it’s a business that is strategic, but it needs to be innovated.” The group’s previous leader, Barbara Reguero, resigned.
The company expects to narrow its equity research team down to 17 analysts, from 66, with most of the layoffs already occurring earlier this week, Mr. Thompson said.
S&P Capital IQ last month decided to shut down its Fund Research business, previously known as Funds Management Research, which evaluated money managers’ decision-making processes.
In all, 35 employees in the group, which was under Mr. Thompson’s purview, will be laid off. S&P Capital IQ in August said it was pursuing strategic options for the business, following an internal review.
Source: 4-traders.com
