Nomura names first woman CFO as part of reshuffle

TOKYO Mon Mar 7, 2011 4:44pm EST

Pedestrians are reflected in a sign displayed outside a Nomura Securities branch in Tokyo February 2, 2011. REUTERS/Kim Kyung-Hoon

Pedestrians are reflected in a sign displayed outside a Nomura Securities branch in Tokyo February 2, 2011.

Credit: Reuters/Kim Kyung-Hoon

TOKYO (Reuters) - Nomura Holdings, Japan's largest brokerage, named Junko Nakagawa as its first female chief financial officer on Monday as it reshuffles its management to better compete globally.

Nomura has been adopting management methods of foreign firms after buying the non-U.S. business of Lehman Brothers, and Nakagawa is the first woman appointed to the role. She assumes the post on April 1.

"It is rare for a Japanese financial institution to give this type of promotion to a woman," said Azuma Ohno, a brokerage analyst at Credit Suisse Securities in Tokyo. "It's an impressive move."

A year ago Nomura promoted Jesse Bhattal, the former Asia-Pacific CEO of Lehman Brothers, to oversee a wholesale division combining its investment banking and trading businesses.

Bhattal, president and chief operating officer of the wholesale business, will receive a further promotion in the latest management change, becoming deputy president of Nomura Holdings, the brokerage said.

He will also become chief executive officer of the wholesale division.

Takumi Shibata will keep his post as chairman of the wholesale business as well as chief operating officer of Nomura Holdings.

Masafumi Nakada, the current CFO, will become president of Nomura Trust & Banking Co.

Those changes also take effect on April 1, the start of the new financial year.

(Editing by Michael Watson)