Curtain call for the Equity Market?

Stanchart is closing down its equity operation in Asia! More than 200
staff will be laid off. What does this mean? A major bank cannot make
money or even losing money in the equity market? It must be. No banks
would close down a profit making business.

Is this the beginning for more banks closing down their equity
businesses? When banks are finding it tough to make profit in equity
trading