Jefferies Said in Talks to Hire Nomura LatAm Debt-Trading Team

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A group of emerging-market debt traders at Nomura Holdings Inc. is in talks to join Jefferies Group, according to two people familiar with the matter.

The New York-based team led by Adam Groothuis, Nomura’s head of Latin American credit trading, is discussing taking on a similar role at Jefferies, the people said, asking not to be identified because the information isn’t public. As many as seven others, including credit salespeople and traders also focused on Latin American securities, may be included in the move, the people said.

Richard Khaleel, a spokesman for Jefferies, Jennifer Will, a spokeswoman for Nomura, and Groothuis declined to comment.

This comes amid a wave of moves as Nomura restructures its debt-trading teams across the world. The Japanese bank said last month it was eliminating from London as many as 60 fixed-income and credit-derivatives positions, including traders and analysts, as it seeks to improve profitability. Earlier this year, the firm let go credit traders in New York.

Nomura has no plans to stop trading in Latin American credit, a person with knowledge of the matter said.

Groothuis, who previously worked at Royal Bank of Scotland Group Plc and Bear Stearns Cos., was hired by Nomura in 2010, Financial Industry Regulatory Authority records show.