Nomura Hires Wong, Gupta From BofA to Boost Asia Equity Sales

Nomura Holdings Inc. (8604) hired Stanley Wong and Ajay Gupta from Bank of America Corp.’s Merrill Lynch unit to boost equities and derivatives business after recruiting three executives from the U.S. bank since May.

Wong joins Japan’s biggest brokerage as head of North Asia equity distribution, said Rob Stewart, a Hong Kong-based spokesman. Gupta will join the equity derivatives team by the end of this month as head of client trading for Asia excluding Japan, Stewart said, citing an internal memo.

Laurent Poirot and Vincent Yam joined the equity derivatives team this month from Bank of America, and Jae Lee started in May as head of equity structuring for Asia excluding Japan, Stewart said.

Nomura has been overhauling Asia equities operations outside of Japan after recruiting Yasuhiro Fujiwara, a former Bank of America veteran, as head of the division earlier this year. Last September, the Tokyo-based bank said it will wrap overseas execution services into its independent Instinet unit, the brokerage it acquired in 2006.

To contact the reporter on this story: Cathy Chan in Hong Kong at kchan14@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net

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