Nomura Said to Cut Four Foreign-Exchange Posts in London

Nomura Holdings Inc. cut four jobs in its foreign-exchange team in London, according to two people with knowledge of the situation.

Emerging markets currency traders Antoine Berger and Darren Dempsey, foreign-exchange salesman Maxim Popov and G-10 spot-trader John Erratt left the bank this week, the people said, asking not to be identified as the details are private.

The four didn’t immediately respond to messages left at their London office seeking seeking comment. Rob Davies, a spokesman for Nomura, declined to comment on the cuts.

Global banks’ foreign-exchange trading businesses are in upheaval as regulatory probes of alleged manipulation of benchmark rates push firms -- already under pressure to cut costs -- to displace workers and shift to electronic platforms. The cutbacks at Nomura aren’t related to those investigations, according to one of the people.

FX Week reported the job cuts earlier today.

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