A Hong Kong-based Nomura executive director has left the bank for the second time this decade.
Soumitra Bhattacharya has now joined Credit Suisse – and secured a promotion to managing director in the process – after his second stint at Nomura ended in January, according to his public profile. He was at the Japanese bank for four years and four months.
Nomura typically pays bonuses in April/May, later than most of its rivals, suggesting that Bhattacharya may potentially have been compensated for the loss of his 2017 payment.
Bhattacharya originally worked for Nomura, as a vice president in structured credit trading, from October 2008 to April 2010. He started his career at Lehman Brothers in 2005 and transitioned to Nomura when it acquired the US bank’s Asia Pacific franchise in 2008, following Lehman’s bankruptcy.
In between his spells at Nomura, Bhattacharya worked for UBS in Hong Kong for three years and six months, starting out as a director in structured credit and then moving to an ED-level role in UBS’s Hong Kong investment bank.
He joins Credit Suisse following a promising 2017 for its investment bank in Asia, which suggests that the firm will be carrying out further hiring in the busy post-Chinese New Year recruitment season. Credit Suisse came first for APAC (ex-Japan) investment banking revenue by bank in 2017, according to Dealogic.
Asia Pacific revenues from Credit Suisse’s advisory, underwriting and financing unit (part of its regional ‘wealth management and connected’ department, which also contains its private bank) were up 25% to CHF715m year on year in 2017. An end-of-year spike in “financing activities and equity underwriting” helped WM&C to post record fourth-quarter revenues, according to the Credit Suisse full-year earnings report.
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