(Adds details, background)
DUBAI/LONDON, March 11 Nomura Holdings'
chief executive for Europe, Middle East and Africa, John
Phizackerley, has left the bank, two sources familiar with the
matter said, as the Japanese lender undergoes a wider
Japan's biggest investment bank, which is seeking to cut
costs in a weak market, has appointed Yasuo Kashiwagi as an
interim replacement for Phizackerley, one of the sources said,
speaking on condition of anonymity as the matter is not public.
Nomura undertook a major reshuffling of its senior
management recently replacing its chief financial officer and
cutting other senior positions.
The reshuffle - the biggest since 2003 in terms of the
number of employees changing roles - is the first since Koji
Nagai took over as CEO promising to rebuild the company from
"the ground up" in the wake of an insider trading scandal.
It named Shigesuke Kashiwagi, a 31-year company veteran as
the chief financial officer, replacing Junko Nakagawa, who will
head the group's internal audit operations.
Among the recent changes, Nomura has cut the number of
senior managing directors, the firm's top layer of management,
to 71 from 80. Those ranks peaked at 105 after Nomura bought
parts of failed Wall Street bank Lehman Brothers in 2008.
Phizackerley, who has more than 20 years of investment
banking experience, joined the bank from Lehman Brothers.
In an interview with Reuters last month, Phizackerley said
he planned to beef up staffing at Nomura's Dubai office seeking
to revamp an operation which had seen several top executives
"I am here to assure you that Nomura is here to say,"
Phizackerley said at the time. "One of the reasons I am here is
that I am planning to interview some senior candidates in Dubai
tomorrow and we will continue to grow in the region."
A spokesman for the bank in London declined to comment.
Phizackerley was appointed to the role in 2011.
(Reporting by Dinesh Nair and Anjuli Davies; Editing by Amran
Abocar and Paul Casciato)