(Updates with Nomura’s performance in 4th paragraph.)
Jan. 30 (Bloomberg) -- Credit Suisse Group AG banker Simon Aird plans to join Nomura Holdings Inc., Japan’s biggest brokerage, as head of European equity syndication, according to a person with knowledge of the matter.
Aird will start at the Japanese bank’s London office in the beginning of February, said the person, who declined to be identified because the plans are private. He was with Credit Suisse for more than a decade. While there, he worked in London as a managing director in the European equity syndication team, and in Hong Kong as the Swiss bank’s head of equity syndication for Asia outside of Japan.
Duncan Smith, Nomura’s former head of European equity syndication, left to join Royal Bank of Canada in September. A Nomura spokeswoman in London wasn’t immediately available for comment.
Nomura, whose overseas operations posted their biggest loss in six quarters for the three months ended in September, is trimming $1.2 billion in costs to revamp businesses that have stumbled since it acquired the European and Asian operations of Lehman Brothers Holdings Inc.
The bank recently lost two former Lehman executives: Jesse Bhattal, the company’s wholesale banking chief, and Tarun Jotwani, head of global markets, agreed to step down this month amid Nomura’s efforts to cut costs and avert a downgrade by Moody’s Investors Service.
Credit Suisse was the fourth-biggest equity sales underwriter in Europe, the Middle East and Africa last year, according to data compiled by Bloomberg. Nomura ranks 13th, the data show. Equity syndication units manage stock offerings.
--Editors: Chris V. Nicholson, Frank Connelly
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