CLSA Americas, the US arm of the Chinese-owned broker CLSA, is closing a big chunk of its business.

Around 90 jobs in research and support will go as part of the change, while around 85 in other roles such as trading will not be affected. The firm will continue to offer execution and trading services, including: Rick Gould, CEO of CLSA Americas said that the firm had always focused on providing US and global investors "differentiated insights on US stocks.

The US office was set up in and focused on serving US funds looking to invest in Asia.

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Init started covering US equities too. Then, inChinese banking giant CITIC Securities acquired CLSA, becoming the first Chinese brokerage to purchase a global financial institution, according to CLSA's website.

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The firm has offices in New York, Boston, Chicago, Dallas, and San Francisco, according to its site. The firm had a number of well-known analysts in the US, including banks analyst Mike Mayo, a fixture on the options trading firms boston TV circuit.

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In November, Citic announced it would combine CITIC Securities International Company Limited CSI and CLSA Limited under the CLSA brand. This story has been updated to clarify that the closure applies stock market ko the US research business, and not the entire CLSA Americas operation.

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CLSA Americas shutting down - Business Insider

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