Deals
Nagai as Nomura CEO Signals Global Retreat Amid Leak Scandal
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Nomura Holdings Inc.’s appointment of domestic brokerage head Koji Nagai as the new chief signals a retrenchment into its home market as Japan’s biggest investment bank reels from an insider-trading scandal and losses overseas.
Nagai, 53, will succeed Chief Executive Officer Kenichi Watanabe, 59, from Aug. 1, Tokyo-based Nomura said in a statement yesterday. Watanabe and Chief Operating Officer Takumi Shibata, architects of the 2008 purchase of Lehman Brothers Holdings Inc.’s assets, will step down to atone for instances of staff leaking information about clients’ share sales to traders.