Bond salesman Giovanni Lombardo said his bosses at Nomura made him a scapegoat as he pleaded with a client whose failed trades eventually cost the bank $40mi.
"Give me a call with a yes or no because here they crucify me," Lombardo said to his client Alberto Statti, the manager and sole employee of an obscure finance trading firm called Invexstar Capital Management Ltd. that was trading bonds with Tokyo-based Nomura.
Bloomberg News reports that the conversation was disclosed Wednesday during a London lawsuit filed by Lombardo, who is suing Nomura over his firing. The 2015 collapse of Invexstar after about a year of trading inflicted losses of $175m on some of the world’s biggest banks. Lombardo, who claims he’s been blamed for mistakes made by others at the bank, can no longer find work in finance and now makes money driving tourists around Sicily, he said.
Hit the link below to access the complete Bloomberg News article: