Wealth Management

Nomura spares Latin America investment banking amid job cuts

Nomura/Bloomberg

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The cuts are part of Nomura’s plan, announced on 4 April, to reduce costs in its global trading and investment-banking operations by $1 billion in coming years.

Sunday 19, May 2019

(Bloomberg) --Nomura Holdings is sparing its Latin America investment-banking operation from a global retrenchment that is forcing out fixed-income traders in the region.

Alberto Ardura, based in New York, will stay on as Head of Latin America client coverage for the Japanese bank’s emerging-markets business.

Among the departures in trading, Andre Rizzo, a Managing Director for Fixed Income in the region, Karan Madan, former Head of Emerging Markets for the Americas and JP Alvarado, who led Latin America credit trading have gone.

Fourth-quarter profit plummeted 96 per cent from a year earlier, raising questions about whether the 94-year-old firm will be acquired.

 

TAGS : Nomura Holdings, job cuts

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