Nomura is still hiring in equities as the investment bank bounces back
Nomura may be cutting people in the US as part of its $100m cost-reduction program, but it's still hiring in London as it builds out the equities business.
Headhunters say Nomura has hired at least two senior people for its equities business in London.
They are: Oliver Jacomb, the former head of prime brokerage sales for EMEA at BNP Paribas and Angelica Pabon, who was previously an equity finance trader from Goldman Sachs.
Jacomb is the bigger of the two fish. Before joining BNP Paribas in 2020, he spent four years at Deutsche Bank and eight years at JPMorgan in London.
The revelation of the arrivals comes as Nomura announced its third quarter results today and revealed a 178% quarter-on-quarter increase in profit in the wholesale bank in the three months to December. This was helpful, given that costs consumed 96% of revenues in the wholesale bank in the previous quarter. They now consume only 89% instead.
Revenues in Nomura's global markets business rose 11% year-on-year in the most recent quarter, while banking revenues were up 30%. The Japanese bank said all fixed income products were strong and that M&A revenues rose in all regions. Bonus allocations rose as a result.
Nomura's equities hiring comes as the bank rebuilds its European equities business under Glenn Fairbairn, a former managing director from Deutsche Bank. Various former DB people have joined, of whom Jacomb, who once worked with them, is merely the latest.
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