Nomura is quietly building its New York solutions team too

eFC logo
Putting their best foot forward

Nomura isn't just building its credit solutions team in Europe. The Japanese bank has also hired a Deutsche Bank vice president for its team in New York.

Benoit Martin is set to join Nomura’s risk solutions group following his gardening leave, according to sources. Martin spent seven years at Deutsche Bank building structured FX risk management solutions and executing FX trades. He has his MBA from Dartmouth’s Tuck School of Business and is fluent in four different languages, according to his LinkedIn profile.

Nomura also just added 17-year UBS veteran Robert Allgyer as a managing director, seemingly in M&A. Allgyer started in September.

The hires come at a rather tumultuous time for Nomura, which is still trying to make good out of its decade-old acquisition of Lehman Brothers’ European investment banking business. Losing nearly $7 billion over the last decade, the bank’s European division has reportedly ousted roughly 50 employees in London since June, according to Bloomberg. The list of cuts includes several business heads and some of Nomura’s senior traders in the region. But the bank isn’t just making cuts; it’s replacing senior staff in an effort to kickstart the business. Markets head Steve Ashley is building a new Client Financing and Solutions (CFS) which creates structured credit products for clients, and aims to increase credit trading revenues 25%.

Nomura's U.S. strategy has been changeable over the years, with the bank charging into new lines of business with fresh hires only to retrench and start anew. The latest effort has been an expansion of Nomura’s M&A business in the U.S.

Have a confidential story, tip, or comment you’d like to share? Contact: btuttle@efinancialcareers.com

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by actual human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t).

Related articles

Popular job sectors

Loading...

Search jobs

Search articles

Close
Loading...