Nomura boosts EMEA bond desks with new head of flow rates
NOMURA Holdings has appointed Hemish Shah as head of flow rates for Europe, the Middle East, and Africa as the Japanese broker works on expanding its wholesale operations in the region.
The Tokyo-based lender hired Shah from Deutsche Bank where he oversaw the rates desk, it said in a statement on Monday (Mar 18).
At Nomura, he will report to Richard Volpe, global head of rates, and Nat Tyce, head of global markets for EMEA.
UK regulators have recently eased capital demands on the Japanese broker that had been place after it lost US$2.9 billion on fund Archegos, Reuters reported, freeing up the firm from a punitive measure that curbed risk-taking.
The additional capital that Nomura now has available will be invested in its wholesale business in Europe.
In its third quarter, which ended in December, the lender wholesale unit delivered a pretax profit of 23 billion yen (S$206 million) following a loss of 1.9 billion yen in the same quarter of the previous year.
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Revenuefrom fixed income products increased by 19 per cent in the third quarter to 103.5 billion yen compared to the same quarter last year, “driven by uptick in Americas with Japan remaining solid,” it said in a presentation.
Shah replaces Pasquale Cataldi who was in charge of the EMEA flow rates until he left last year. Deputy head Olek Gajowniczek also left the firm last month. REUTERS
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