June 15 (Reuters) - James Frawley, Macquarie Group Ltd’s U.S. head of mergers and acquisitions, has left the Australian investment bank to join Nomura Co Ltd, people familiar with the matter said on Monday.
The high-level departure comes as Macquarie continues to slim down its traditional investment banking operations to focus on more stable returns from activities such as retail banking and annuity-style businesses. Japan’s Nomura, on the other hand, has been on an investment banking hiring spree in the United States.
Frawley will play a leading role in Nomura’s M&A group, the people said, although his new title could not be immediately learned. The sources requested anonymity because Frawley’s move has not been made public.
Macquarie and Nomura declined to comment.
Frawley joined Macquarie to lead the New York-based U.S. mergers and acquisitions group in 2012. He was previously head of FBR & Co’s investment banking group. (Additional reporting by Greg Roumeliotis and Olivia Oran in New York; Editing by Lisa Von Ahn)