BlueCrest Said in Talks to Hire Ex-Nomura Executives

BlueCrest Capital Management LLP is in talks to hire former Nomura Holdings Inc. (8604) executives Jonathan Larkin and Christian Dalban, according to a person with knowledge of the matter.

Larkin, 38, who was head of Americas equities trading at the Japanese brokerage, left this week after about a year, said two people with knowledge of the matter. Dalban, whose group uses Nomura’s capital to trade, was also poised to leave the bank, two other people said earlier this month. The people asked not to be named because the information is private.

Ed Orlebar, a spokesman for London-based BlueCrest, which manages more than $30 billion, declined to comment, as did Jonathan Hodgkinson, a spokesman in New York for Tokyo-based Nomura. Larkin and Dalban didn’t return telephone messages seeking comment.

Nomura’s Chief Executive Officer Koji Nagai has pledged to cut $1 billion of expenses that swelled after the company bought some of Lehman Brothers Holdings Inc.’s operations in 2008. Nomura trimmed investment bank payrolls last quarter and had 34,098 employees as of Dec. 31, down 717 from three months earlier.

Ciaran O’Kelly, hired by Nomura in 2009 to lead the expansion of its Americas equities business, was scheduled to leave at the end of last year, according to a September memo to employees. The Japanese brokerage planned to cut as many as 30 jobs that month as part of its Americas equities division amid a global reorganization, people briefed on the plan said in September.

Photographer: Kiyoshi Ota/Bloomberg

Nomura Holdings Inc. trimmed investment bank payrolls last quarter and had 34,098 employees as of Dec. 31, down 717 from three months earlier. Close

Nomura Holdings Inc. trimmed investment bank payrolls last quarter and had 34,098... Read More

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Photographer: Kiyoshi Ota/Bloomberg

Nomura Holdings Inc. trimmed investment bank payrolls last quarter and had 34,098 employees as of Dec. 31, down 717 from three months earlier.

Cutting Jobs

Nomura joins global financial firms including Barclays Plc (BARC) that are reducing staff. Barclays, which also bulked up buying Lehman Brothers assets, said in February it plans to cut 1,800 jobs at its corporate and investment bank, which has businesses in Hong Kong, London and New York.

Larkin joined Nomura in New York in January last year from Millennium Management LLC, where he was head of equities for the hedge fund. He had been at Millennium, run by Israel Englander, since 2006 after leaving JPMorgan Chase & Co., where he worked for nine years and had run U.S. single-stock volatility trading. Larkin left Millennium around October 2011.

Dalban also previously worked at Millennium, where he ran the hedge fund’s European business, according to Nomura at the time of his June 2010 hiring.

To contact the reporters on this story: Ambereen Choudhury in London at achoudhury@bloomberg.net; Saijel Kishan in New York at skishan@bloomberg.net

To contact the editors responsible for this story: Edward Evans at eevans3@bloomberg.net; Christian Baumgaertel at cbaumgaertel@bloomberg.net

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