Macquarie's equity derivatives business has cut seven jobs in Hong Kong, two in New York and one in London, say news reports today. Ted Tsao, global head of equity derivatives sales based in New York, and Olaf Kasten, head of equity derivatives trading for Asia, are among those who left Australia's biggest investment bank. Macquarie is moving away from trading equity derivatives for institutional clients, while keeping the business that caters to retail investors. The news follow the recent d
