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The upshot is that Warburg now has a much smaller US equities presence. Among those who have left are two high-profile members of the management team, investment bankers Mike McCarty and Philip Keevil. The two had been recruited in 1991 to build up the US investment banking effort and co-headed the firm for a time. Swiss Bank confirms that Warburg New York has lost almost two-thirds of its investment bankers, down from 64 to 25, and the number of equity analysts has also declined dramatically, from 32 to nine. |
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