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Morning Coffee: Nomura’s futile M&A hiring. Can you solve this complex puzzle?

Nomura M&A hiring

Nomura is not about to give up

Will Nomura ever give up? The Japanese bank just announced plans to hire ‘about 20’ investment bankers in the US next year. Why? Because it’s not doing as well as it would like. “We haven’t built up enough of a client base in the Americas, and we’re very aware of that,” said Kentaro Okuda, global head of investment banking, adding that it was especially “shocking” that Nomura missed out on some large deals involving Japanese insurers in the US this year.

What may be even more shocking however, is that Nomura’s failure to penetrate the US market comes after years (and years) of hiring. As we’ve pointed out previously, Nomura began hiring M&A bankers in the US market back in 2011. Then, it ranked 35th. This year, it will rank 44th – the same as last year. Will extra hiring really make any difference? Nomura seems to think so. – It intends to double its Americas investment banking revenue over the next two or three years and wants to concentrate on consumer and technology companies.

Separately, and as you may have heard, British cyber-security agency GCHQ, is on a hiring drive. Last month, it was spraying job advertisements onto the streets of London’s Shoreditch. This month, it’s issued a puzzle for people to solve before January 31st.  You can download the puzzle here (although it was a little ‘slow’ when we tried) and you can read more about it here. If you can solve it and you’re a British citizen, you will eligible for a salary of…£35k ($53k) after five years. 

Meanwhile:

Rabobank is cutting 9,000 people or 20% of its full time work force. Client facing roles will be spared. Infrastructure roles will not. (Financial Times)

Morgan Stanley is closing down its US solar power group as part of its fixed income redundancies. (Reuters) 

Morgan Stanley’s fixed income cuts will not touch its primary debt and equity underwriting businesses, which have ‘never been busier.’ (Global Capital)

Citi just poached Kathryn Woodfine, a senior money laundering professional from Bank of America. (Financial News) 

Bill Winters is hiring former colleagues from Renshaw Bay to work with him at Standard Chartered. (WSJ)

Banks are ‘going rural’ and hiring outside London to cut costs, says recruitment agency. (Telegraph) 

Between 2007 and 2014, men running banks got a healthy 60% raise. That was almost twice the pay rise awarded to women in the same position. (Quartz)

You didn’t want to buy CMBS from Credit Suisse. (Bloomberg) 

Top hedge fund managers are getting a bit old. (WSJ) 

Traders in ‘eye-watering shorts’ and five inch stilettos raise money for charity. (Daily Mail)

Study says companies are better off avoiding ‘toxic’ people than hiring superstars. (HBR)

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