Pali Capital was going to be the saviour of Wall Street.
That didn’t work out and now it is shutting down.
The broker-dealer once touted itself as the place to go for Wall Street veterans who were fleeing the struggling big firms has more recently been attempting and failing to a buyer. It has been steadily bleeding staff for months.
“Pali had about 250 employees at its peak last year, but that count dropped to about 130 employees in recent days,” Dow Jones reporter Joe Bel Bruno reports.