March 27, 2023
Banking International

Nomura cuts 18 Asia banking jobs as dealmaking slows

Nomura Holdings Inc has cut 18 Asian banking jobs, most of them China-focused investment roles, after a sharp slowdown in dealmaking activity, according to two sources with direct knowledge of the matter.

Japan’s top brokerage and investment bank last week laid off bankers in Hong Kong, Singapore, Malaysia and Taiwan, said the sources, declining to be identified as they were not authorised to speak to media.

A separate source with knowledge of the matter said the cuts were not limited Asia, but would also affect Nomura’s international investment banking operations across the United States, Europe, the Middle East and Africa. The source gave no further details.

Nomura in a statement acknowledged headcount reductions but did not comment on locations or the number of individuals affected.

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