Cutbacks but not closures...
By Aled Herbert
Published: 2 November 2001 07:55 GMT
Merrill Lynch HSBC is cutting back international expansion of its online share-dealing service.
Proposed launches in Germany and Japan have been put on ice. The company told the will now be concentrating efforts on operations in Australia, Canada and the UK.
The fee for trading via the phone will be cut to bring it into line with online charges.
Online stockbrokers have been hit by falling appetites for retail share dealing, matched by falling stock markets.
It is an area of intense competition with many companies chasing a shrinking market. The number of online broking accounts has fallen 85 per cent since peaking 15 months ago.
The company will focus on profitability rather than just growing market share.
The role is to Australia, China and Japan. Ideally China, Japan or Australia Start date is Dec 09 duration is 6 months+ Apply now for a quick ...
Jan latest - full-time on-site in Germany and/or UK - duration: planned until April plus extension If you meet the requirements, have good references ...
To identify and act upon cost reduction and resourcing opportunities, monitoring market prices and availability trends, and investigating new sources ...
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