Jefferies's Morden Joins Nomura for Strategy After Departures

Nomura Holdings Inc., the Japanese bank that lost its Latin America credit-trading team to Jefferies Group Inc., hired Siobhan Morden from the New York-based firm as a sovereign strategist.

Morden started Thursday covering Latin America from Nomura’s New York office, according to Jonathan Hodgkinson, a spokesman at the Tokyo-based bank. She replaces Javier Kulesz, whose team of traders and salesman led by Adam Groothuis left Nomura for Jefferies over the past two months. In taking on the new group, Jefferies fired nine people from its Latin America team last month, including Morden.

“Siobhan is one of the most experienced hands in the market in Latam strategy space and she brings a huge amount to the franchise,” Nomura said in a memorandum to clients. “Her hire shows our commitment to the region, and to EM, and comes as part of the Latam re-build, showing our continuing commitment therein.”

Morden was the head of Latin America fixed-income strategy at Jefferies, where she’d been since 2012 and produced daily research and strategy on Argentina, Brazil, Chile, Colombia, Mexico, Peru, Uruguay and Venezuela. Previously, she led Latin America strategy at Royal Bank of Scotland Group Plc, where she worked for about six years. Her career on Wall Street began at JPMorgan Chase & Co. in 1992.