Bloomberg News

Nomura Hires Iwan, Olive for Americas Banking Divisions

March 29, 2012

Nomura Holdings Inc. (8604) hired David Iwan to cover industrial companies and named Lee Olive to lead leveraged finance syndicate activities in the Americas as the Tokyo-based firm expands investment banking in the region.

Iwan, 40, is joining Nomura from Bank of America Corp (BAC:US). and will be based in New York. He will report to Jonathan Rouner, who heads industrials and mergers and acquisitions in the Americas, Nomura said today in a statement. Olive, 41, a New York-based managing director, previously worked for Citadel LLC and Citigroup Inc. (C:US) and will report to Carl Mayer, head of leveraged finance for the Americas.

Nomura, which bought Lehman Brothers Holdings Inc.’s Asian and European operations in 2008, currently ranks 18th for advising on deals in the U.S. this year, according to data compiled by Bloomberg. Glenn Schiffman, who ran Lehman’s Asia- Pacific investment banking and joined Nomura during the takeover, moved to the U.S. in 2010 to help Japan’s largest brokerage build an Americas banking operation.

“The Americas represents the most compelling growth market for Nomura and these appointments reflect the firm’s commitment to strengthening its investment banking platform,” said James DeNaut, who replaced Schiffman as head of Americas investment banking after his departure last year.

Iwan was among 13 investment bankers Bank of America dismissed from its industrials group last year, two people with direct knowledge of the actions said in September. Olive started working for Nomura last month after leaving Citadel, which was in talks to sell its investment-banking unit, two people familiar with the matter said in August.

Nomura plans to post as many as 15 top recruits to its mergers and acquisitions team in April to meet cross-border deal demand, two people familiar with the plan said. The college graduates are among 50 hired through a two-year-old elite recruiting program promising triple Nomura’s starting salary in an effort to raise the firm’s global investment banking and trading competitiveness, the people said on the condition of anonymity, citing confidentiality.

To contact the reporter on this story: Will Robinson in New York at

To contact the editor responsible for this story: Jennifer Sondag at

The Aging of Abercrombie & Fitch
blog comments powered by Disqus