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[Nolerman]

Wall Street sees head count drop

Squeezed by new capital and risk rules and tough markets, Wall Street is taking the ax to its workforce, a report by London research firm Coalition shows.

The number of investment bankers, traders, salespeople and research analysts at the world’s largest banks has fallen 20% globally since its recent peak in 2010.

While job cuts on the front end have become standard, firms have been increasing their back-office hiring to beef up controls in areas ranging from compliance to risk