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Dispatches: Nomura’s $34m golden handshake

One of the architects of Nomura’s daring acquisition of Lehman Brothers’ European and Asian operations at the height of the financial crisis has been awarded a US$34m “golden handshake” after leaving the bank. Sadeq Sayeed, the former chief executive of Nomura’s European business and a long-term adviser to the Japanese bank’s board, abruptly resigned in March after failing to secure a promotion that would have given him The size of his severance pay-out may spark controversy in Japan as well as with rank-and-file employees who are still under pressure to deliver big gains from the Lehman tie-up. (Financial Times)

China’s banking regulator has told banks in Beijing to test for the impact of a plunge in property values below what is owed on mortgages, a local newspaper reported on Wednesday. The order to examine any potential damage from negative equity in the real estate market is the latest effort to probe for banks’ vulnerability to a crash in housing prices. (Reuters)

Deutsche Bank said it will hire brokerage analyst Masao Muraki from Daiwa Securities Group as Germany’s largest lender expands equity coverage in Japan. (Bloomberg)

A month-long global online poll conducted in July by international recruitment specialists Robert Walters found that chatty colleagues pose the biggest distraction at work, far worse than smoke breaks or surfing social-networking websites. (Asia One)

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