Late Lunchtime Links: Possible bad bonus news for Nomura's EMEA bankers - there are plans to hire a lot of expensive people in the US

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Nomura’s investment bank was profitable last quarter. After making a loss for three of the four quarters of 2012, it swung to a profit of $157m. For 2012 as a whole, Nomura’s investment bank made a loss of $472m.

Needless to say, Nomura’s cutting costs.  Its detailed headcount chart shows it’s cut 339 people in Europe over the past year. In America, however, Nomura’s hiring!

Between March 2011 and March 2012, Nomura acquired 72 new people in the US. Now it wants more. James De Naut, Nomura’s head of investment banking for the America’s told Bloomberg he plans to hire another 62 managing directors and executive directors over the next three to five years, taking the total to 100.

The revelation of De Naut's hiring plans comes before Nomura’s London bonuses are announced next week. While it's unlikely to have a direct impact on the amount people are paid at St Martin's-le-Grand, Nomura’s US hiring plans underscore an uncomfortable truth: the bank is focused on growth in the US, not Europe.  Bonuses announced in Europe next week may reflect this.


Deutsche Bank trader plans to leave and set up a hedge fund using a strategy he developed while trading his own account. (Bloomberg) 

Successful female bankers have househusbands. (Bloomberg)

Female hedge fund manager calls boss a jerk, thrives. (Bloomberg) 

BNP is cutting bonuses 52%. SocGen’s only cutting them 44%. (Financial News) 

"Banks ruined themselves by systematically and catastrophically overpaying not-quite stars" (Financial Times)