April 9, 2013 / 2:06 PM / 5 years ago

Nomura names UK adviser Bennett as EMEA chief executive

LONDON, April 9 (Reuters) - Japan’s Nomura Holdings named Jeremy Bennett, a British government adviser on banking, as the new boss of its European operations on Tuesday.

Bennett, who has been assisting the British government on the implementation of reforms to separate retail banking from riskier investment banking operations, will become chief executive of Nomura in Europe, the Middle East and Africa (EMEA) once he gets approval from regulators, the Japanese bank said.

Nomura is having a tough time in Europe and is trying to cut costs across the world.

Bennett replaces John Phizackerley, who sources said left the firm last month. Yasuo Kashiwagi will be interim EMEA CEO until Bennett is approved.

Bennett is already a non-executive director of Nomura Capital Markets and has been an adviser to Britain’s Financial Services Authority and the Treasury, and worked for Credit Suisse between 1997 and 2008. (Reporting by Steve Slater; Editing by Helen Massy-Beresford)

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