Nomura is reportedly set to hire Todd Sandoz, the ex-head of global fx and short-term interest rate trading at Credit Suisse in London, as global head of equities.
It is understood he will join Nomura in London on completion of his gardening leave from Credit Suisse. Sandoz could not be reached. A spokeswoman declined to comment.
Sandoz spent more than 16 years at Credit Suisse where he worked in senior roles covering foreign exchange, equities and convertible bonds. When he joined in 1996 he focused on equity derivatives and convertible bond trading in Asia Pacific. Other roles have been global head of equity cash trading and co-head of equities for the Americas. Prior to Credit Suisse, Sandoz was at Citadel, working across equity derivatives trading, convertible bonds, convertible credit trading and arbitrage strategies.
The appointment would follow a period of turnover in Nomura’s equities business. Global head of equities Christian Dalban and head of equity derivatives trading Saad Hammoud (DW, 6/17) left the firm for BlueCrest Capital Management in London, Emmanuel Slezack, head of Asia Pacific index flow trading for Asia Pacific, joined hedge fund BFAM Partners (DW, 7/15) while Mohamed Yangui, head of product development and structuring group in London, departed the firm in July.
At the same time, the firm has been building back up its equities business, hiring senior traders and structurers. Among the recent hires are Ralph Maison, the ex-head of equity index options trading at the Royal Bank of Scotland in London (DW, 9/3), Thomas Jarck, the ex-head of index flow trading in global equity derivatives at Deutsche Bank in New York (DW, 5/21), and Laurent Poirot, the ex-head of delta one risk trading at Bank of America Merrill Lynch (DW, 8/19). Nomura’s most senior hire over the last 12 months was Yasuhiro Fujiwara, the former co-head of global markets and head of equities Asia Pacific at BAML, who became head of equities, Asia ex-Japan and head of equity derivatives trading in Hong Kong (DW, 3/27).
During the last year, Nomura has also expanded its corporate derivatives and structured products business in the Americas and its volatility product range. In June, the firm hired Stephen Roti, the former global head of equity linked origination at Barclays in New York, to focus on the development of equity derivatives products and the management of equity origination and execution for corporate clients (DW, 6/13). In Tokyo, meanwhile, the firm listed the region’s first exchange-traded notes linked to an Asian volatility index (DW, 4/12).