Nomura Holdings reduces senior banker headcounts in Asia

Nomura Holdings senior bankers are leaving in some areas in Asia. Hong Kong-based managing directors Maryann Tseng, who joined the equity capital markets team last year, and Wallace Wong in mergers and acquisitions are both departing. Bernard Lim in Singapore is also leaving, and the firm is closing its small Malaysia investment banking operation. While Nomura has been trying to diversify its revenue streams, a global plummet in dealmaking and stock issuance is complicating those efforts. Nomura’s investment banking revenue fell 21% from a year earlier in the three months ended 30 September 2022. Chief executive officer Kentaro Okuda earlier tapped Christopher Willcox to oversee operations, including global trading and investment banking, counting on the Wall Street veteran to bolster a division that generates roughly half of the brokerage’s total income.