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Thursday, 19 October 2017

Nomura puts Nielsen, Deeny at risk as part of London cuts

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Nomura has put two more senior bankers at risk of redundancy as part of cuts to its staffing levels in London aimed at trimming costs in reaction to less favourable market conditions, according to sources familiar with the matter.

Benedict Nielsen, head of high-grade syndicate and origination for the Europe, Middle East and Africa region who joined the bank in 2011 from UBS, is one of the bankers who has been put at risk, say sources.

Also affected is Simon Deeny, its co-head of global finance for EMEA who only joined from HSBC last October. His co-head Ken Brown remains at the bank while Nick Dent and Morven Jones continue to head up the EMEA bond syndicate and debt capital markets business respectively.

Nomura is in the process of trimming back operations in response to less favourable market conditions and new regulations that make some business areas less profitable.

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