Nomura cuts in EMEA as full year profits fall
Nomura announced details of its new strategy at its investor day in Tokyo on Tuesday, confirming its plans to cut its equity business in EMEA, embark on a cost cutting drive in Americas, but shore up its regional presence in Asia outside Japan.
Chief operating officer Tetsu Ozaki outlined a plan to “further improve profitability of international business” – something of a euphemism for a business line that has lost money for years.EMEA will be hit hardest by the Japanese bank’s belt tightening — the bank plans to “focus on ...
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