Australian financial services firm Macquarie Group Ltd. is shutting down its equity sales, trading and research businesses across Canada, the company confirmed Monday.
A Macquarie spokesperson would not comment on how many jobs have been impacted.
It is understood that the job cuts were in Toronto and Calgary.
The spokesperson said the firm remains “committed” to Canada, and it will continue to provide domestic cash equities execution services and provide access to its global execution platform.
The spokesperson added in an email that Macquarie has more than 100 staff working across commodities trading and hedging, corporate finance and advisory, cash equities execution, futures, asset management and equipment leasing in a variety of sectors.
Macquarie is headquartered in Sydney, Australia and has more than 15,000 employees in 27 countries.