Inside views on the jobs market
HONG KONG, Sept 30 (Reuters) – Japan’s Nomura Holdings plans to match last year’s bonus pool for Lehman Brothers’ Asia group, according to sources familiar with the matter, in an effort to prevent Lehman bankers from leaving.
The move is also aimed at showing Nomura’s commitment to Lehman bankers, who are still reeling from the collapse of the 158-year old New York institution.
The exact size of the bonus pool and exactly who is entitled to it is unclear, with top performers expected to get first claim.
Lehman’s Asia-based bankers will be offered cash for their 2008 bonus, the sources say, adding that in some cases, 2009 bonus money will be guaranteed as well.
The following are job changes within the financial industry for September 22, linked where possible to profiles on LinkedIn.
The Japanese investment bank said James Lamb, Steven Ware, Kai Herbert, Sami Amara and Lofti Bensassi have joined its global foreign exchange sales and trading team in London. Herbert was previously from Bank of America, while the other four had worked at Bear Stearns.
MUMBAI/SHANGHAI: Within hours of Bank of America agreeing to buy Merrill Lynch this week, Indian financial services firm Ambit hired five Merrill executives, a sign that Asia hopes to gain from massive Wall Street layoffs.
For China and India, whose economies are still expanding at well over 7 percent, the global financial industry crisis makes it easier to recruit bankers who are brushing off their resumes.