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Nomura adds to European equity research team

LONDON, May 11 (Reuters) - Nomura Holdings 8604.T said on Monday it has hired equity analysts from Dresdner Kleinwort, Citigroup, and RBS as it aims to cover more than 600 stocks in Europe, the Middle East and Africa by the end of the year.

The Japanese bank is one of the few firms expanding in the area as more distressed peers cut costs after receiving government help.

Mark McVicar, Joel Copp-Barton and Andrew Evans are joining Nomura from Dresdner Kleinwort, which is losing staff as its owner Commerzbank CBKG.DE retreats from London. They will cover transport and infrastructure.

Marc Van't Sant and Ed Steele will join from Citigroup C.N to cover business services. Simon Larkin and Nick Thomas will join to cover leisure from Royal Bank of Scotland RBS.L.

Rebecca Langley joins Nomura from Dresdner Kleinwort as an industry specialist in the sales team. She will cover business services, leisure and transport and infrastructure.

“Japanese companies traditionally take a long-term approach to winning market share. We are well supported to expand at a low point in the cycle,” said Paul Norris, Nomura’s head of equity research for the EMEA region. “Nomura has consistently been ranked number one (for equity research) in Japan and we want to reach a similar position in Europe,” he added.

The best ranking for Lehman Brothers, whose European operations were acquired by Nomura late last year, was number five.

Norris said Nomura “has a few more hires to go”. He declined to say which sectors future hires would be in. (Reporting by Victoria Howley; Editing by Greg Mahlich)

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