Penson Worldwide Inc said it will close its UK operation and will sell some of its assets there, as part of ongoing efforts by the securities clearing firm to reshape its business in the face of continuing losses.The announcement comes close on the heels of Penson's decision to sell its Australian subsidiary to BNY Mellon's Pershing unit for A$33 million in Nov.Penson said the closure will reduce its annual losses by $6-$7 million. It will take a related charge, including severance, in the fourth quarter.Penson Worldwide, which posted its sixth straight quarterly loss last month, had said it would restructure itself and was in talks to sell its London unit.
Penson Worldwide, Inc. (Penson) is a holding company. Shares of PNSN remained unchanged at $1.14. In the past year, the shares have traded as low as $0.93 and as high as $7.41. On average, 204205 shares of PNSN exchange hands on a given day and today's volume is recorded at 400.
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