The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

What’s up at CMC?

Rumours persist that all is not well at CMC Markets.

The company, which Goldman Sachs took a 10% stake in the company in November 2007, remains predominantly owned by its founder and executive chairman Peter Cruddas.

As a private company, CMC is able to control the news flow about it to a far greater extent than those which are listed, particularly when it comes to anything that could potentially portray it in a bad light.

So while it was happy to release a stellar set of figures for the year to the end of March 31, 2008, it appears reluctant to comment on the rumours that it has just embarked on a global redundancy programme, which will include the departure of a senior director in its London office

In its last financial year, CMC reported that its revenue rose 64% to £181.4 million, while its profit after tax leapt by 209% to £39.8 million. There is no doubt that the company is one of the big boys in its sector, and so it is inevitable that any scaling back of its operations generates interest. The rumour mill says that the company will cut back its presence in Australia, Japan and China and that the axe has also just been wielded in London.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree