Nomura: Lehman taking shape
Nomura’s takeover of Lehman Brothers’ European and Asia businesses is yielding results, and concerns the Japanese bank will struggle to marry cultures is misplaced, according to the man who drove the deal.
“We are finding surprisingly little differences between Lehman in Asia and Europe and Nomura in Asia and Europe. It was a marriage of two multicultural organisations, and both Lehman Brothers and Nomura aspire to be houses with a collegiate culture.”
Nomura had kept most of the Lehman staff it wanted to, has learnt from past international expansion mistakes, and was winning back business lost in the aftermath of the deal, he said.
It was number three in London equities trading in June, for example — from “nowhere” in December and number 8 in May. Lehman had been number one before its collapse, however. “There’s no guarantee that we will go back to number one, but we want to be,” he said.
Nomura is also hiring bankers to beef up its U.S. presence, and is applying for an equity license in Australia and looking for a partner in China.
Photo credit: REUTERS/Issei Kato