Altium closes securities arm

CITY investment bank Altium is to close its securities division with the loss of 30 jobs, it said yesterday.

Altium has started a 90-day consultation but said the freeze in capital markets left it unable to operate. The closure will leave highly regarded staff such as head of research Greg Feehely facing an uncertain future.

“The outlook remains bleak for UK-centric brokers,” it said. Altium will instead focus on corporate finance.