Oppenheimer and Evercore Partners cut back on stock analysts

Oppenheimer Holdings and Evercore Partners are cutting stock analysts following a global slump in equity markets.

Bloomberg News reports that Oppenheimer dismissed seven senior equity research analysts and an equal number of support staff, according to Jacqui Emerson, a spokeswoman for Oppenheimer with Peppercomm. Evercore, the investment bank founded by Roger Altman, cut five equities analysts from its research staff, according to people familiar with the decision.

The dismissals at Oppenheimer were part of a year-end review, Emerson said in an e-mailed statement. Sean McGowan, Holden Lewis, Robert Duboff and James Schumm were among the analysts let go, according to people familiar with the decision, who asked not to be identified discussing personnel matters. The four men declined to comment.

“We will continue to cover all of the firm’s traditional sectors and have refocused our energy efforts toward clean technologies to further support our clients’ needs," Emerson said.

To access the complete Bloomberg News article hit the link below:

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