December 2, 2019 / 9:32 AM / 12 days ago

Japan's Nomura promotes COO Kentaro Okuda to replace CEO Nagai

(.)

Dec 2 (Reuters) - Japanese brokerage Nomura Holdings Inc named its operating chief Kentaro Okuda as new chief executive on Monday, replacing Koji Nagai who will become the company’s chairman.

The reshuffle comes as the Japan’s biggest brokerage and investment bank posted its strongest quarterly profit in more than 17 years and continues a cost-cutting campaign after its first annual loss in a decade last year.

Okuda joined the company in 1987 and became co-chief operating officer in April. He becomes CEO on April 1, Nomura said. (Reporting by Tokyo bureau; Editing by Edmund Blair)

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