Macquarie may close structured products business in Europe

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Australian investment bank Macquarie Group is conducting a review of its European structured products and exotics business as a result of unfavourable market conditions, and may decide to shut it down. The move follows the departure of Todd Steinberg, global head of Structured Products, who resigned from the bank last September.

Macquarie Securities Group, the bank's structured products arm, employs over 1,500 staff across all offices worldwide, with the bulk of its European business based in

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