Bloomberg News
NEW YORK - The clock has started ticking for Schroders PLC's U.S.-based research analysts.
Executives at Citigroup Inc.'s Salomon Smith Barney unit began interviewing the analysts, who number about 60, three days after agreeing to buy the U.K. investment bank for $2.2 billion.
Mordechai Abir, senior strategist at Schroders in New York, said most of the analysts think they will be out of a job by May.
Salomon has "got so many analysts already, there has to be duplication," said Mr. Abir, who joined Schroders in 1980. He said the interviews would be conducted in alphabetical order.
A Salomon spokeswoman did not immediately comment. The unit's head of U.S. equity research, Kevin McCaffrey, was unavailable because of meetings, his secretary said.
James Hanbury, who follows brokers and money managers for Schroders in New York, said interviews with Salomon were scheduled for today, and "we're focused on that kind of stuff."
