Nomura Said to Hire Citigroup's Sangimino as Co-Head of U.S. Cash Equities
Nomura Holdings Inc., Japan’s biggest brokerage, hired Citigroup Inc.’s Paul Sangimino to serve as co- head of U.S. cash equities with Pascal Bandelier, according to two people with direct knowledge of the appointment.
Sangimino, 43, will start in August at the company’s U.S. unit, Nomura Securities International Inc., and report to Ciaran O’Kelly, the head of equities for the Americas, according to one of the people, who declined to be identified because the information isn’t public. Sangimino, who declined to comment, worked at Lehman Brothers Holdings Inc. from 1995 to 2008.
Nomura hired Bandelier, 30, from Barclays Plc in March for equity cash trading, or facilitating the purchase and sale of common stocks. Sangimino will handle sales trading, while Bandalier will be responsible for trading and risk, according to the other person. The appointments at the Tokyo-based company’s U.S. unit follow hires in convertible bonds, derivatives and program trading and expansions into U.S. equities and research.
Sangimino was head of U.S. equity trading at Citigroup.
Nomura also hired UBS AG’s Joe Peta as senior equity trader for technology as well as Courtney DiTullio, Andy Lee, Rob Plumaker and Woojin Choi, formerly traders at Barclays and Lehman Brothers for at least 12 years, one of the people said. Peta used to work at Neuberger Berman Technology and Lehman.
Filling a Hole
Earlier last week, Nomura hired Romit Shah, the semiconductor analyst at Barclays, one of the people said.
Nomura bought the Asian and European units of Lehman Brothers in 2008, while Barclays purchased the firm’s U.S. assets. That left the Japanese bank with a “hole in the global network, particularly in the corporate side,” Philip Keevil, senior partner at investment bank Compass Advisers LLP in New York and a former head of Citigroup’s European mergers team in London, said last month.
Nomura increased its U.S. workforce to about 1,640 people at the end of December, from 1,080 nine months earlier. It may add “dozens” more people in the U.S., Chief Financial Officer Masafumi Nakada said in February.
Nomura Securities plans to add almost 100 people in equity research this year, including about 20 publishing analysts. The firm earlier this year hired Sanford C. Bernstein & Co. analyst Michael Nathanson, the top-ranked entertainment industry analyst in Institutional Investor magazine’s 2009 survey, as head of U.S. media and telecommunications equity research.
Nomura hired David Puritz, head of U.S. convertible bond trading at Deutsche Bank AG, in March to run the business in New York and named Joe Sokolowski as head of program trading. Dmitriy Genkin is in charge of derivatives.