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The Wall Street Journal: Outspoken analyst Mike Mayo laid off as CLSA cuts back U.S. operations

Brokerage firm CLSA Americas LLC, the home of outspoken banking analyst Mike Mayo, is cutting back its business in the U.S.

Asia-based CLSA said in a release Monday that it will “pivot its U.S. domestic equity brokering business to focus exclusively on the provision of execution and trading services to institutional investors.” The firm, which is owned by China’s Citic Securities 6030, -0.60%600030, -1.08% , said the changes will lead it to exit U.S. domestics research among other areas.

The firm is cutting 90 staff as a result of the change, with 85 remaining, a spokeswoman said.

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