visimoney
TLDR:
– Nomura is cutting people in the US but is still hiring in London as it expands its equities business.
– The bank has hired two senior individuals for its equities business in London: Oliver Jacomb and Angelica Pabon.
Nomura is continuing to hire in its equities division in London as it expands the business. Headhunters report that the bank has hired two senior executives for the equities team: Oliver Jacomb and Angelica Pabon. Jacomb, formerly the head of prime brokerage sales for EMEA at BNP Paribas, is the more significant of the two hires. Prior to joining BNP Paribas, he spent several years at Deutsche Bank and JPMorgan. Pabon was previously an equity finance trader at Goldman Sachs. These hires come as Nomura announces a 178% increase in profit in its wholesale bank in the last quarter, signaling a bounce back for the bank.
Nomura’s equities hiring is part of its efforts to rebuild its European equities business. The bank has been hiring various former Deutsche Bank employees for this purpose, with Jacomb being the latest addition. Glenn Fairbairn, a former managing director at Deutsche Bank, is leading the rebuilding effort.
The growth in Nomura’s equities business comes as the bank reports positive results in its third quarter. Revenues in the global markets business rose 11% year-on-year, and banking revenues were up 30%. The bank attributed this growth to strong performance in fixed income products and an increase in M&A revenues in all regions.
Overall, Nomura’s equities hiring and positive financial results indicate that the bank is bouncing back from its recent challenges in the market.
