Bloomberg News reports that Stanley Wong, North Asia head of equity sales, and Michael Kurtz, global head of equity strategy and chief Asia ex-Japan strategist, are leaving the firm, according to separate company memos, the contents of which were confirmed by Hong Kong spokesman Aaron Pan.
The restructuring involves the elimination of as many as 30 jobs in Nomura’s Asia ex-Japan equities division, and came after a dozen job cuts at the investment-banking unit last month, a person with knowledge of the matter said. The brokerage plans to largely exit its European equity operations as Chief Executive Officer Koji Nagai reduces costs after years of losses overseas, people familiar with the matter said this week.
O’Neile’s promotion will add to his existing responsibility for Japan cash-equity sales for Asia ex-Japan. In his new role, he’ll report to Daisuke Mototani, head of equities for Asia ex-Japan, and Norikazu Akedo, head of equities for Japan.
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