Top Firm Said To Be Hacking Headcount

Axe In Wood

Sound familiar ?

eFinancialcareers reports that Nomura is taking an axe to headcount in its equities business. Equity research is being hacked most heavily, with senior equity researchers particularly prone to being chopped.

Around 20 people are said to have gone. Utilities, retail, healthcare and pharmaceutical teams were among the casualties.

Notably, Nomura pays its bonuses in April so the senior equity researchers have all been let go before their bonuses are paid.

In the meantime, Bloomberg reports that Citigroup can omit from its annual meeting a question for shareholders that would require the lender to explore breaking up, the Securities and Exchange Commission said.

The SEC’s Office of Chief Counsel agreed with Citigroup that the proposal, submitted by Trillium Asset Management, was vague enough that shareholders wouldn’t know what actions it required, according to an SEC letter to the bank dated March 12.

And Reuters reports that Goldman Sachs has said it will hold its annual meeting in Salt Lake City this year, the first time the Wall Street bank is inviting shareholders to cast their votes at a gathering outside the New York metropolitan area.

'We're delighted to hold our annual shareholder meeting in what has become our second-largest office in the U.S', Chief Executive Lloyd Blankfein said in a statement provided to the news agency.

Finally, Reuters reports that a bankruptcy judge on Wednesday gave creditors of Lehman Brothers the green light to subpoena former JPMorgan Chase trader Bruno Iksil, the so-called 'London Whale', in an $8.6bn lawsuit against the bank, a Lehman spokeswoman said.

Judge James Peck made the decision at a hearing in U.S. Bankruptcy Court in Manhattan, spokeswoman Kim McLeod said on Wednesday.

Nomura cuts senior equity research staff just before bonuses

Citigroup Can Omit Shareholder Split Proposal, SEC Says

Goldman Sachs ventures west for annual meeting in Salt Lake City

Lehman creditors can question 'London Whale' - judge

image: © Torpe

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