Banca IMI shuts down New York sec lending desk

Banca IMI shuts down New York sec lending desk

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Banca IMI has shut down its securities lending desk in New York.

The firm’s US broker dealer arm - Banca IMI Securities Corp – exited the stock loan business in October, Global Investor/ISF understands.

Senior figures including Larry Meyers and Jack Palmieri have left the company.

The US subsidiary will continue to offer other investment banking and capital market services.

The wider Banca IMI business, part of Intesa Sanpaolo, still operates as a significant dealer in Europe's equity and bond markets. 

The firm’s European stock loan desks, run by Barbara Ferri, remain open for business.

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