CMC Markets, the financial trading business majority owned by one of the City’s richest men, is cutting just over 10 per cent of its workforce.

MC, founded by its executive chairman Peter Cruddas, whose family still controls approximately 85pc of it, saw profit before tax increase almost three times to £57.2m in the year to March, up from £21m the previous year.

Peter Cruddas, the City of London’s richest man, has appointed two new directors to the board of CMC Markets…

British spread-betting firm CMC Markets said yesterday investment bank Goldman Sachs had agreed to take a 10 per cent stake in the firm.