Nomura lures two more bankers from US rival

PUBLISHED : Saturday, 17 August, 2013, 12:00am
UPDATED : Saturday, 17 August, 2013, 4:00am

Nomura has grabbed two senior investment bankers from rival Bank of America Merrill Lynch in a move to support its business expansion in Asia, in particular outside its home market of Japan.

Stanley Wong and Ajay Gupta will join the Japanese bank's Hong Kong office, according to an internal company notice.

A Nomura spokesman confirmed the appointments had been made. They followed several other recent hirings from the US bank, including that of Yasuhiro Fujiwara, the equities head for Asia excluding Japan, in March.

Nomura is bucking the trend by expanding its equities team. Trading on the Hong Kong stock exchange is slowly recovering but still far below pre-crisis levels.

Wong has been appointed the head of north Asia equity distribution and will lead Nomura's sales efforts in greater China and South Korea. While he was in a similar role at his previous bank, Institutional Investor magazine named his team the best sales force in the region.

Gupta will join as head of client trading for Asia excluding Japan at the end of the month. He was the head of equity-linked trading for the Pacific rim at Bank of America Merrill Lynch, where he was responsible for equity derivatives and convertible bond products.

The notice said Gupta's experience in corporate derivatives and capital market pricing situations would help grow Nomura's risk platform in Asia.

Gupta will head a team that includes two recent hires from the same bank. Laurent Poirot and Vincent Yam both joined Nomura this month. Jae Lee also left the US bank, in May, to head equity structuring for Asia excluding Japan at Nomura.