US Broker flees

Where would all these broker go to?


The Standard - Hong Kong's First FREE English Newspaper

More than 11,600 US brokers left Wall Street in the first four months of this year, putting it on course for the biggest wave of departures in at least five years, regulatory filings show.

About 653,371 brokers remained in April, according to data compiled by the Financial Industry Regulatory Authority, the main US brokerage regulator. At that rate of decline, almost 35,000 brokers may leave for other jobs in 2009.