Matrix parts company with Le May

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Matrix Group is parting company with Malcolm Le May, the head of its investment banking business, as the broker reviews the future of the operation.

Mr Le May is said to be retiring from Matrix Corporate Capital (MCC) after two years as chief executive.

He joined as part of a push to expand into a full-service broker and adviser to take advantage of market turmoil.

Matrix is set to close parts of MCC in a tough market that has seen other brokers cutting jobs. MCC is likely to be cut back to its energy, investment funds and real estate teams.