Top firm is focusing on new talent, tech push to revive profit in Europe

European Union

Nomura paid almost nothing for Lehman Brothers’ European investment bank as the financial crisis raged in 2008. But the deal has still cost it dearly.

Bloomberg News reports that so much so that after its most recent results, Nomura’s chief financial officer said there’s a "strong sense" of urgency for the bank to improve performance. Japan’s biggest brokerage hasn’t been among the top 10 investment banks in Europe since at least 2013, according to data from Coalition Development Ltd.

Nomura, like other securities firms, has struggled with regulatory burdens and negative interest rates that have eaten into returns. But its troubles in Europe have been deepened by internal woes, such as management tumult and risky trades that backfired. Now the bank is betting a leadership overhaul, a push into complex financing deals and better technology will reverse the trend, according to people with knowledge of its strategy.

Hit the link below to access the complete Bloomberg News article:

After Losses in Europe, Nomura Seeks to Resuscitate Business

Ken Griffin Hires Two Moore Capital Veterans for Macro


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