Nomura’s Asia I-Banking Chief Heads to U.S.

HONG KONG (Reuters) – Nomura Holdings (8604.T) on Monday said that its investment banking head for Asia (excluding Japan) will leave to take on the same role for the Americas.

Nomura appointed Glenn Schiffman as head of investment banking for the Americas effective Feb. 1, according to an internal memo obtained by Reuters.

The memo regarding Schiffman’s new appointment was first sent to Nomura staff by Asia ex-Japan Chief Executive Minoru Shinohara on Monday.

To ensure a successful transition, Schiffman would continue in his role in Asia through to March 31 Shinohara said in the memo.

Nomura bankers Colin Banfield and Patrick Schmitz-Morkramer would become joint heads of investment banking for Asia, ex-Japan.

The bank later issued a press release to the media, confirming the new appointments.

Prior to Nomura’s landmark acquisition of Lehman Brothers in the financial crisis, Schiffman was Head of Investment Banking for Asia-Pacific at Lehman Brothers, and as a member of the Asia Executive Committee helped to manage the sale of Lehman’s Asian business to Nomura in September of 2008.

Schiffman, who started at Lehman Brothers in 1991, had executed financings as well as M&A transactions well in excess of $100 billion during his career, according to the press release issued by Nomura.

Nomura has experienced rapid growth in the Americas in the last 12 months, particularly in Fixed Income and Equities, having increased its employees by more than 50 per cent to service its rapidly growing global and North American client base, the bank said in the press release.

(Reporting by Michael Flaherty and Clare Jim; Editing by Chris Lewis)