Nomura is getting serious about shedding its perennial underdog status in the U.S.
Bloomberg News reports that almost a decade after Barclays beat Nomura to acquire Lehman Brothers' North American business, the Japanese investment bank remains “weak” there, Chief Executive Officer Koji Nagai said in an interview in Tokyo.
To change that, Nagai said he’s open to hiring entire teams of investment bankers or even making acquisitions. The company has about 200 people in its regional unit covering mergers advisory, equity capital markets and leveraged financing.
At the same time, Nagai put Nomura’s workers in Europe on notice: Fee income per employee there is well below the Americas and the CEO may cut jobs in unprofitable businesses in the region. Nomura has already eliminated about 900 positions, mainly in Europe and the Americas, as Nagai sought to put overseas operations on a firmer financial footing.
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