Apr 12

Nomura Fires 1,000 As It Quits European Equity Business; Blames “Extreme Volatility And Lack Of Liquidity”:

The latest confirmation of the pain global megabanks are suffering as a result of an abysmal trading environment, in no small part made even worse due to constant central bank tinkering, comes from Japan’s largest brokerage, Nomura, which eight years after buying Lehman’s European and Asian units has decided to fire 15% of its European staff and is abandoning most of its European equities business. Altogether, Nomura will fire about 1,000 bankers between its European and US groups.

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