Nomura keeps hiring Singapore macro types. They are not all from ANZ
Nomura is building out its macro business, particularly in Singapore. As we have said, Nomura is partial to hiring from ANZ as it does so, but sometimes it finds people elsewhere too.
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Nomura's ANZ hires are still multiplying. After hiring Anshu Sidher, the former global head of markets at ANZ, Herr-Ling Yeo, ANZ's former head of Global FX and commodities, Ryan Fong, the head of financial sponsors clients FX sales for Asia at ANZ, and then Raghav Joshi, a senior G10 FX trader who arrived from Santander but who also previously worked for ANZ, we understand that Nomura has also recruited Madhu Subramanian. Subramanian spent 13 years at ANZ and was the bank's head of markets strategy, private structuring and capital management. Now he's Nomura's head of FX & EM and AEJ balance sheet management.
Subramanian arrived quietly in April. Nomura's most recent Singapore recruit is not from ANZ, though. He is understood to be from HSBC. Multiple sources say that Nikhil Barman, who was HSBC's head of ASEAN rates and global debt markets trading, is also joining Nomura this week. Barman himself has not confirmed this. The Monetary Authority of Singapore (MAS) Register says Barman left HSBC in late April, but that he has yet to arrive elsewhere.
Nomura's ongoing ANZ hires are causing ripples among existing staff. There have been exits. Hoe Lon Leng, the global head of FX flow and rate trading, resigned. Nicky Lam went to Citi last September. In London, where the ANZ traders are not, William Johnson, a senior EGB trader, went to hedge fund Alphadyne in February. Kilian Frensch, Kunal Parekh, Gian Ameri, Quinn Borley, Ruchelle Beltia, Sergey Smallkov, Kentaro Seki, Christopher Killoran, Nathan Sribalasundaram, Clarissa Reid, Michael Hall and Bevan Harris and have all left in the last six months too. Their exits are not thought to be ANZ-arrival related.
In the circumstances, Nomura needs some new people. ANZ, which has been cutting staff and reining in risk under chief executive Nuno Matis, since it was fined for rigging government bond sales, looks like a good place to find them. Some legacy Nomura people are not so sure. "The old guard is thinning and the gaps are being filled with one bank's diaspora," complains one insider, who suggests the ANZ arrivals are "less of a buildout than a transplant."
Nomura declined to comment on its ANZ hires. The bank didn't respond to a request to comment on Nikhil Barman.
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