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Bank analyst Shailesh Raikundlia leaves Haitong amid cuts

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Bank analyst Shailesh Raikundlia leaves Haitong amid cuts

Shailesh Raikundlia, a bank equity analyst, has leftHaitong's London subsidiary, a spokesperson for the company told S&P GlobalMarket Intelligence on May 9.

His departure comes as the Chinese investment houseand parent Haitong Securities Co.Ltd. changes the London unit's focus toward Asian trading.

As many as 25 jobs in Haitong's London equitydepartment were put at risk by the pivot, according to an April 21 report in The Daily Telegraph.

Haitong took over Banco Espírito Santo de Investimento SA,including its London business, in 2015 from Portugal's , the good bank carvedout of Banco Espírito Santo SA in 2014.