Bloomberg: banks continue to cut FICC traders

Banks Keep Cutting Bond Traders as One-Third Gone Since 2011
FICC headcount fell another 5 percent from year ago: Coalition
First-quarter revenue was lowest since financial crisis
The world’s biggest banks have shed about one in three bond traders since 2011 as rules making some businesses less profitable dovetail with volatile markets that are spooking investors, according to research from Coalition Development Ltd.
The total count of fixed-income, currency and commodity traders and salespeople at global banks was 18,300 in the first quarter of 2016, 32 percent less than the same period five years ago, Coalition data shows. Headcount fell 5 percent from a year earlier as lenders including Credit Suisse Group AG, Morgan Stanley, Deutsche Bank AG and Goldman Sachs Group Inc. fired workers in so-called FICC businesses to cut costs.
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