There is some good news at Nomura. - Even as it cuts staff in London, the Japanese bank is not pulling back from internship and graduate offers made to students who are joining this summer.
It's understood that Nomura will honour all the offers made to graduates and interns joining its wholesale and corporate bank this summer and that juniors will be joining desks with an active interest in hiring them.
The reassurance comes after Nomura cut 100 jobs in London and announced a new strategy of 'downscaling' G10 FX, emerging markets and flow credit jobs in Europe and America. One laid-off Nomura managing director publicly expressed his condolences to graduates who were hired last year, only to be let go this month.
While Nomura's incoming student hires should be safe, they may not want to spend too much time studying the profiles of senior bankers on the Japanese bank's student site - at least one of them was ousted in the recent cuts.
"Nomura's founding principles are research and rigorous analysis," says George Goncalves, Nomura's head of U.S. rates strategy, in a video for student hires on the bank's own site. "We really try to figure out the places where we have an edge or thought provoking content... It's really embedded in our DNA."
Goncalves was among those losing their jobs at Nomura's U.S. business earlier this month.
Nomura declined to comment. Yesterday the Japanese bank announced a $116m loss in its wholesale business and the removal of bonuses for its 60 most senior executives.
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