William Barter, the former head of U.K. investment banking at Nomura Holdings Inc. (8604), is poised to join HSBC Holdings Plc (HSBA) as head of global banking for the U.K., according to two people familiar with the situation.
The role would be a newly created position and a final decision has yet to be made, one of the people said, declining to be identified because the plans are private. An HSBC spokesman was not immediately available for comment.
Barter, who worked on 2012’s biggest takeover, left Nomura late last year, according to the Financial Services Authority register. His departure followed a reorganization of the Japanese firm’s investment bank.
Barter, 46, became head of U.K. investment banking at Nomura in November 2009 after joining from Citigroup Inc. (C), and spent his last day at the firm on Dec. 31, according to the FSA register. 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.
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 and other high-profile hires 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.