Good luck to anyone who decides to look for a new banking job in this market. While there are pockets of hiring (eg. Credit Suisse equity research), London recruiters say there's really not much going on. Even so, some former Nomura bankers are defying the gloom.
In the past month several of the bankers let go by Nomura in its recent redundancy rounds have found new jobs. Plenty, however, are still on the market.
The new recruits include: Marc Soubières, a former executive director in Nomura's strategic equity derivatives business in London, who just joined Mediobanca; David Pieri, a former FX derivatives trader at Nomura in New York, who just joined National Australia Bank; and Amandine Triadu, who - as we reported yesterday - has resurfaced at Mizuho in London.
Notably, Nomura's bankers seem to be finding new jobs at banks in the third tier or beyond. London recruiters say this is because there's very little hiring. "After the first quarter, everyone is cutting down - it's just a difficult market and you won't get a new job unless there's an obvious spot," says one fixed income headhunter.
Nonetheless, some Nomura bankers are voluntarily decoupling themselves from the bank after recent disappointing bonuses. Insiders say that Joana Ribeiro, a top performing associate in Nomura's strategic risk solutions business, has resigned to join Evercore in a few months' time. Others may yet decide to folow her lead.
Nomura made around 100 front office investment bankers and traders redundant when it announced its new strategy in April 2019. Most have yet to find jobs elsewhere.
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