Sherry Liu cut as Jefferies axe falls again

The redundancies, which also included Ren Wang, are part of a wider restructuring away from chasing low-fee SOE restructuring deals.

Jefferies has let go more investment bankers in Asia, including regional chairman Sherry Liu, as part of a wider restructuring of the firm to focus on more profitable advisory work, according to four people familiar with the matter.

Another high-profile name to go was Ren Wang, who Jefferies poached from UBS in 2011, one of the people said.

The New York-headquartered bank also laid off just under 20 people in cash equities, or 5% of the team in Asia, late last week, they said.

A spokesman for Jefferies declined to comment on the job cuts. 

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