Late Lunchtime Links: Nasty omen at Nomura; another bank is hiring corporate brokers

eFC logo
Nasty omen

These are not especially good times if you work in fixed income at Nomura. Last Friday, the bank was downgraded (as expected) by Moody’s to just one notch above investment grade. If it’s downgraded again, the number of counterparties willing to trade with Nomura is likely to fall dramatically.

More promisingly, Moody's says the outlook for Nomura is stable. But in other adverse Nomura-related news, William Wright points out that between 2006 and 2011, total pre-tax profits at the wholesale bank declined 107% - hardly an advertisement for the brilliance of its Lehman-bolstered international business.

Separately: another bank has an appetite to hire corporate brokers. HSBC is reportedly about to embark upon a “significant hiring spree” for corporate brokers, with the intention of a “large-scale push” into corporate broking this year.


Carlyle has poached Alexander Pietruska from Lloyds to set up a Europe, Middle East andAfricateam for its primarily US-focused financial services group. (Financial Times) 

BNP Paribas Corporate Finance has hired someone from Macquarie. (Capital IQ Power Moves)

Amazon and Facebook seem to be offering better graduate packages than banks. (Wall Street Oasis)

"There's one guy who wanted to go to Wall Street but now had some kind of moral epiphany and won't, who cares?" said Gorman. (Fortune) 

Johnny Cameron is now working for a charity that rehabilitates young offenders. (Daily Record) 

Hector Sants commuted in and out of Oxford to Canary Wharf every day. (The Times) 

The head of Standard Chartered’s investment banking is going to get a salary and bonus totaling £10m. (The Times)

“I despise Goldman,” says the chief investment officer of one UK asset manager. “It is completely self-serving and I do my best to persuade people not to do business with them. When they get involved in a business it is a good signal for us to withdraw." (Financial Times) 

Greg Smith could now get an enormous book deal. (Bloomberg)

If you were born between 1974 and 1985, your income may have peaked around the age of 31.(Financial Times)