Nomura’s Singapore office isn’t just hiring in private banking – it’s also building up its trading desk. The Japanese bank has just hired Subhajeet Parida from hedge fund Silver Ridge Asset Management as a Singapore-based executive director in emerging markets (EM) linear rates trading.
We understand that Parida reports into Sreedhar Mylavarapu, head of linear rates for Asia ex-Japan at Nomura, who is also based in Singapore. Nomura declined to comment.
Parida’s move marks his return to banking and to Asia, having spent two years as a portfolio manager at Silver Ridge in London, the macro hedge fund set up in 2015 by Citi’s former global head of FX Anil Prasad, the man once dubbed the “world’s most powerful FX banker”.
New Nomura recruit Parida started his own career at Citi as a management associate in global consumer banking in Singapore in 2006. He later became an EM rates trader, before leaving for a director-level role at Bank of America Merrill Lynch in Hong Kong in 2014. Parida only stayed at BAML for 18 months – he was rehired by Citi as a director in EM fixed income trading in 2015 and stayed there until joining Silver Ridge in 2017.
Parida is not the only trader that Nomura in Singapore has lured from the buy-side in recent months. As we reported in September, former RV Capital Management portfolio manager Kunal Biswas joined Nomura as an executive director in flow FX. Biswas led the Asian FX trading team at Credit Suisse in Singapore from 2011 to 2016.
Biswas was a replacement for Binoy John, an FX trader who joined from JP Morgan in 2016 and is now understood to be moving to the buy-side himself.
Other FX traders also left Nomura in Singapore last year. Devvrat Tripathi, a former Nomura rates trading executive director, joined Crescent Asset Management earlier this month as a portfolio manager, according to his LinkedIn profile. Mohan Raj Gupta, head of Southeast Asia and Greater China rates trading, has also left Nomura, according to a source.
The departing traders are understood to have chosen to leave, and their exits are not believed to be linked to the ex-Japan redundancies that Nomura announced last April under a plan to revive its overseas businesses.
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