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At 4.15pm last Monday, as Mr Mayo tells it, he was summoned to an all-hands meeting.The number of analysts working at the world's 12 biggest investment banks fell to 5,981 last year, according to numbers from Coalition, a data provider on the industry.At the same time that Mr Mayo was losing his job, another analyst covering the banking sector also suffered the same fate.Some analysts have always been attracted to the adjacent world of investment banking.Imran Khan was an analyst at JPMorgan six years ago, moved to Credit Suisse as an investment banker and later joined the tech industry. Not everyone sees research as a dying industry.Jamie Dimon, JPMorgan chief executive, launched into a story about arriving to run a previous bank and discovering that Mr Mayo had been banned by staff from analyst calls.Autonomous Research, founded in London by Stuart Graham, a former banks analyst at Merrill Lynch, set itself up as a research-only institution in 2009 and has made it pay.
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