Nomura adds former Goldman Sachs MD to bolster sales team

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Nomura has hired veteran mortgage-backed securities salesperson Lou Rosenfeld as it seeks to continue to grow out its business in the U.S. Rosenfeld started earlier this month in New York as a managing director.

Rosenfeld was most recently at Credit Suisse, but was reportedly caught in a broader series of staff reductions late last year, according to the Grapevine. He was previously a senior managing director at fixed income asset management specialist Good Hill Partners following a three-year stint as a managing director at Goldman Sachs. Rosenfeld cut his teeth at Bear Sterns before the financial crisis. Nomura declined to comment on the hire. Rosenfeld didn’t respond to a request for comment.

Nomura was one of the Wall Street firms that was fined by regulators over claims that it misled investors about the quality of residential mortgage-backed securities that it was marketing in the years leading up to the crisis. The Japanese firm agreed to pay $480m in fines just last year to resolve the decade-old civil claims. Meanwhile, Nomura is actively trying to resuscitate its European business with a new round of hires.

Rosenfeld gave out some career advice when he was a keynote speaker at the 2011 graduation ceremony for his alma mater, George Washington University. “Love what you do and the future it holds for you,” Rosenfeld said. “There’s no shame in trying out an industry and realizing it’s not for you.”

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