Nomura U.K. Bank Head and Xstrata Adviser Barter Leaves

William Barter, the head of U.K. investment banking at Nomura Holdings Inc. (8604) who worked on 2012’s biggest takeover, has left the Japanese firm after a reorganization of the investment bank, according to the Financial Services Authority register.

Barter, who was named head of U.K. investment banking at Nomura in November 2009 after joining from Citigroup Inc., spent his last day at the firm on Dec. 31, according to the FSA register. Now 46, he worked on a team advising Xstrata Plc (XTA) on its purchase by Glencore International Plc (GLEN) for $33 billion, creating the world’s fourth-biggest mining company in the biggest deal last year.

Nomura is scaling back its overseas ambitions after buying Lehman Brothers Holdings Inc.’s European and Asian operations in 2008 -- a purchase intended to underpin a global investment bank. Since then, the Japanese brokerage has seen the exodus of former Lehman bankers amid losses posted by Nomura’s foreign operations.

Chief Executive Officer Koji Nagai has promised to cut $1 billion in costs, almost half of which will come from Europe and the Middle East. Last year, Nomura named Adrian Fisk to be head of M&A in Europe, the Middle East and Africa, as well as of U.K. investment banking as part of the reorganization.

A Nomura spokeswoman declined to comment.

Piero Novelli, former global co-head of mergers and acquisitions, left Nomura late last year and is rejoining UBS AG (UBSN) as chairman of global M&A, Switzerland’s biggest bank announced in an internal memo earlier this week.

Shares of Nomura fell 2.8 percent to 480 yen in Tokyo today. The stock has gained 80 percent in the last six months, valuing the company at 1.83 trillion yen ($21 billion).

To contact the reporters on this story: Aaron Kirchfeld in London at akirchfeld@bloomberg.net; Matthew Campbell in London at mcampbell39@bloomberg.net

To contact the editor responsible for this story: Jacqueline Simmons at jackiem@bloomberg.net

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