Nomura is combining its two equity platforms, sources familiar with the matter told Reuters, putting an end two years in which it allowed them to compete against each other.
'Instinet and Nomura were separate for years but Nomura now wants to rationalize cost', one of the sources said.
Hit the link below to access the complete Reuters article:
Nomura forges ahead with European brokerage merger
In the meantime, The Daily Telegraph reports that two senior Barclays staff, a director and a top trader, have left the bank’s US offices in the wake of the Libor scandal that has shaken the bank to its foundations.
According to the newspaper, regulatory filings say that Barclays formally notified the US regulators that Ritankar ‘Ronti’ Pal was 'discharged' on July 30 because the bank had a 'loss of confidence' in him for failing 'to properly supervise individuals on his team'. Pal, 42, was the head of US interest rates trading in New York.
Hit the link below to access the complete Daily Telegraph article:
Barclays heads roll over Libor
Finally, Reuters reports that European policymakers warned bankers on Tuesday to expect tougher regulation after a series of scandals had demonstrated the industry was incapable of policing itself.
Nearly four years after bank dealings in subprime mortgages caused a global financial crisis, the sector's image is again in tatters due to an interest rate rigging scandal and massive losses from bad trades.
Hit the link below to access the complete Reuters article:
European bankers told to expect tougher regulation
M. Stanley-led group invests $150 mln more in China hydropower firm
Player salaries could weigh on Manchester United, warn Nomura
UK watchdog tells banks to change sales rewards
image: © Ivy Dawned
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