Nikko Cuts Back
SPECIAL REPORTS
NEW YORK--Nikko Securities has closed its securities brokerage business in New York and is closing its Chicago office. Nikko New York shuttered its fixed income department and transferred its equity brokerage business to Salomon Smith Barney (SSB) in December 1998 as part of a joint venture with SSB. This leaves some 20 to 30 research and asset management people in the New York office. In Chicago, Nikko terminated its futures/options unit in January and is winding down the rest of its operations
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