Broking houses that boomed during lockdown as a new breed of investors played markets have lately found life much harder.
In the half-year to November revenue was down 9% to £472 million. The active client base fell from 312,000 to just over 296,000 - a familiar tale for City brokers.
Corcoran was appointed as CEO in January, replacing June Felix who has overseen a rapid expansion, not just in the UK.
Critics of the industry note that most punters lose money, whatever the sector's claims to be a vehicle for sophisticated investors to balance risk.
This story is from the January 25, 2024 edition of Evening Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 25, 2024 edition of Evening Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
The era of longevity is almost upon us. But can our minds really keep up?
A post-ageing world is just around the corner, says longevity scientist AUBREY DE GREY, and it’s going to change the way we live
Hidden London
SECRET SPOTS YOU SIMPLY HAVE TO DISCOVER
How Christian Louboutin fell in love with Melides in Portugal
The wild beauty of this seaside village charmed the French fashion designer so much that he made it his home
Actor Millie Bobby Brown romances in Hyde Park, feasts at Sheesh and buys thelot at Harrods
Interview with Actor Millie Bobby Brown
How will Arteta manage without influential Edu?
Arsenal need smooth transition between eras just like Man City
"I had no one in Manchester apart from my PlayStation"
Aaron Wan-Bissaka was a young man rated among the country's most promising footballers when Manchester United came calling in the summer of 2019.
The battle for the soul of Soho
Inside the war between London's porn baron family and the council they say is killing the vibe
At the table: Sad steaks seasoned with despair
Fetch the smelling salts, you're in for a shock: A Restaurant Critic Hates a Famously Terrible Restaurant. Low-hanging fruit? Perhaps.
Class portrait Nobody else writes about middle England so acutely
Tessa Hadley's first novella depicts women in refreshing ways
How a tiny cult radio station in Hackney took over the world
I think the most obscure place I've had a listener email from so far was probably a guy in the Yukon,\" laughs Flo Dill, the host of NTS Radio's flagship morning show.
