Nomura is growing its emerging markets business in London. The Japanese bank appointed Anant Swarup, its North American rates head, as head of emerging markets macro in EMEA last August. Now, sources say it’s also hired Gokhan Buyuksarac, the top EM trader who quit Goldman earlier this month.
Neither Nomura nor Buyuksarac commented on his appointment, but Buyuksarac is thought to be joining in a senior position – possibly as head of all emerging markets trading in EMEA.
The move comes as banks across London build their emerging markets businesses. Last month Nomura also hired David Ishoo Mirzayoo, an EM veteran who spent eight years at SocGen, as head of sales for central and emerging Europe and Africa, and Jefferies hired two new emerging markets co-heads.
Buyuksarac’s decision to join Nomura is likely to raise eyebrows. The Japanese bank has a reputation for flip-flopping in the London market and cut its equities business in 2016 after making broad redundancies in its London credit business a year earlier. Now it seems to have determined to build emerging markets headcount up again – and Buyuksarac’s arrival suggests it’s willing to pay generously in the process.