Nomura’s closure of its equities business was a comparatively recent event – happening only two months ago. Nonetheless, plenty of Nomura’s top equity researchers seem to be finding new jobs elsewhere.
Speaking off the record, equity research headhunters say that at least seven of Nomura’s ousted researchers have found new roles. Their new homes are said to include Bank of America Merrill Lynch, Jefferies, and Natixis.
Three former Nomura equities professionals are said to be joining Bank of America Merrill Lynch (BAML). David Hayes, a former Nomura managing director specializing in the consumer goods sector, is said to be going to Bank of America Merrill Lynch. Hayes spent 16 years at Nomura. Guillaume Delmas, another ex-Nomura researcher who spent nearly eight years at the bank after joining from Lehman, is said to be going to BAML too, along with Elsa Hannar, a Nomura analyst who moved into equity research from electronic sales trading in 2013.
Another three ex-Nomura equities professionals are off to Jefferies. Ed Mundy, a former top ranked Nomura beverages analyst, is said to have joined the U.S. bank. We understand that Owen Bennett, a former tobacco researcher with Nomura, has too. Mark Howden, the former head of Nomura’s consumer group, is also said to have joined Jefferies in a consumer sales role.
Finally, Numis Securities is understood to have hired two ex-Nomura reesarchers. They are Richard Stuber, a Nomura vice president in leisure and equity research, who spent nearly five years at the bank after joining from J.P. Morgan Cazenove in 2011, and Tim Barrett, a senior leisure analyst who joined from J.P. Morgan five years previously.
The hires at Jefferies come after the U.S, bank made various other additions to its equity research team last month. Under MiFID II, banks in Europe have an incentive to hire big name equity researchers who can charge for the research they produce.