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UPDATE 1-Nomura cuts 50 investment banking jobs in Asia
April 15, 2009 / 10:25 AM / 8 years ago

UPDATE 1-Nomura cuts 50 investment banking jobs in Asia

(Adds quote from Nomura)

HONG KONG, April 15 (Reuters) - Japanese brokerage Nomura Holdings Inc (8604.T) has cut another 50 investment banking jobs in Asia, excluding Japan, sources close to the matter said on Wednesday.

In September, Nomura bought the Asian, European and Middle Eastern assets of Lehman Brothers, shortly after the New York brokerage collapsed.

The bank has since been cutting jobs, both legacy Lehman and Nomura positions, to deal with the overlap amid a worsening economic environment since the deal was struck.

A source familiar with the matter on Wednesday said the latest rounds of cuts at the bank hit around 20 jobs in Hong Kong, with the rest coming from offices spread across the Asia-Pacific region, including Australia, India, and South Korea.

“Nomura continues to examine our headcount in light of the current environment and the market opportunity and notes that the departures represent less than 3 percent of the Asia ex-Japan business,” Nomura Spokesman Matthew Russell said in a statement.

Reporting by Michael Flaherty, George Chen, Clare Jim; Editing by Chris Lewis

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