Reuters reports that Nomura is pinning its turnaround hopes on bond and foreign exchange trading even as big rivals shrink some of those divisions, and a swoop on clients abandoned by others is helping it grow, the bank's fixed income boss said.
'We're still looking to progress and grow and take market share where it's appropriate for us', the firm's Global Head of Fixed Income Steven Ashley told Reuters in an interview.
'Our competitors have been challenged and focused on delivering their businesses... That has definitely allowed us some more scope', he added.
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In the meantime, Bloomberg reports that Ciaran O’Kelly, recruited by Nomura in 2009 to lead the expansion of its Americas equities business, is leaving as the Japanese bank overhauls international operations.
O’Kelly, 44, previously Global Head of Equities at Bank of America Corp. (BAC), will remain at Nomura through the end of the year, David Findlay, CEO of the Americas unit, wrote yesterday in a memo. A copy was obtained by Bloomberg News and Jonathan Hodgkinson, a company spokesman, confirmed its contents. Nomura will announce 'a new management structure for the business shortly', Findlay wrote.
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image: © Keith Hall