Bloomberg News

Nomura Names Kieran Poynter Chairman of International Unit

November 30, 2011

(Adds Nomura comments from third paragraph.)

Nov. 30 (Bloomberg) -- Nomura Holdings Inc., Japan’s largest brokerage, named Kieran Poynter chairman of its international unit to replace Colin Marshall, who is stepping down because of ill health.

Poynter, 61, is a former chairman of accounting firm PricewaterhouseCoopers LLP and joined the board of Nomura International Plc and Nomura Europe Holdings Plc in November 2009, the Tokyo-based bank said in a statement today. Marshall, 78, will remain a director of both units and advise the firm on its strategic plans, the lender said.

Poynter “has already proved to be a great asset to our company in his non-executive director roles,” said John Phizackerley, chief executive officer of Nomura’s European, Middle Eastern and African unit.

Nomura is cutting jobs and slashing annual costs by $1.2 billion, mostly in Europe, as it seeks to return to profit after posting its first quarterly loss in 18 months. The loss from the lender’s international operations swelled to 52.4 billion yen ($670 million) in the three months ended Sept. 30. The firm this week cut its assets linked to Italy and southern European nations as the region’s debt crisis intensifies.

--With assistance from Takahiko Hyuga in Tokyo. Editors: Edward Evans, Keith Campbell.

To contact the reporters on this story: Ambereen Choudhury in London at achoudhury@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net


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