Rabobank is pulling the plug on its own brokerage and research services with the loss of 30 jobs, further reducing the number of analysts active in the Netherlands focusing on Dutch companies, the Financieele Dagblad says on Tuesday.
Their work will now be done by European brokerage Kepler Cheuvreux which follows 61 Dutch companies. The deal takes the form of a ‘partnership’ and Rabobank has taken a 5% stake in the broker, the bank said in a statement.
No financial details were revealed.
The paper says there are fears the decision will have an impact on the quality of the analysis carried out on smaller Dutch firms and that this could lead to ‘less efficient’ pricing on the stock exchange.