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Nomura cuts headcount in equities business in Asia excluding Japan

Thursday, April 14, 2016 - 12:49

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Japan's Nomura Holdings Inc has cut 20 to 30 jobs in its equities business in Asia excluding Japan, a person with direct knowledge of the matter said on Thursday, just days after the investment bank announced a partial retreat from Europe and the Americas.

[HONG KONG] Japan's Nomura Holdings Inc has cut 20 to 30 jobs in its equities business in Asia excluding Japan, a person with direct knowledge of the matter said on Thursday, just days after the investment bank announced a partial retreat from Europe and the Americas.

The reduced headcount is linked to annual performance and is unrelated to Nomura's Europe and Americas strategy, said the person, who declined to be identified as the information was not public.

Separately, an internal memo seen by Reuters showed Michael Kurtz would step down as Nomura's global head of equity strategy and chief strategist for Asia, excluding Japan.

A Nomura spokesman confirmed the memo content but declined to comment on job cuts.

REUTERS

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