Trading firm Tower Research cuts UK pay after revenue slump

City Correspondent

The New York-headquartered firm founded by ex-Credit Suisse fixed income trader Mark Gorton has reported a leaner year for its London office

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US trading firm Tower Research Capital cut average pay for staff in London after a sharp drop in revenue last year.

New York-based Tower Research’s UK arm swung to a £467,000 pre-tax loss in 2024 from a £3.1m profit a year earlier, according to newly published registry filings.

The US firm’s UK arm has booked a 67% drop in net trading income

Lars Mucklejohn

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