Nomura's Vereker steps down as head of investment banking
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Nomura's Vereker steps down as head of investment banking 04 September 2012Tokyo Reporter: Jenna Jones
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William Vereker, the joint head of investment banking at Nomura Holdings, is stepping down from the role to become vice chairman of investment banking, according to an internal memo.
the other joint head, Kentaro Okuda, will assume sole leadership of the global investment banking at the brokerage with immediate effect.
The personnel change comes after Japan's biggest brokerage firm announced a $1 billion coast-cutting plan Friday, offering the first indication of how Nomura is changing under new management. The company will offer more details on the cost cuts by the 6 September.
Vereker, a former Lehman banker, advised Xstrata on its merger with Glencore and is one of the few senior executives who stayed at Nomura.
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