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Ex-Nomura Trader Says Bank Crucified Him Over Client Demise

  • Giovanni Lombardo suing Nomura in London for unfair dismissal
  • Bank says his inaction helped cause $40 million Invexstar loss
Giovanni Lombardo, a former bond trader at Nomura Holdings Inc., leaves an employment tribunal in London, U.K., on Tuesday, May 17, 2016.

Giovanni Lombardo, a former bond trader at Nomura Holdings Inc., leaves an employment tribunal in London, U.K., on Tuesday, May 17, 2016.

Photographer: Simon Dawson/Bloomberg
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Bond salesman Giovanni Lombardo said his bosses at Nomura Holdings Inc. made him a scapegoat as he pleaded with a client whose failed trades eventually cost the bank $40 million.

"Give me a call with a yes or no because here they crucify me," Lombardo said to his client Alberto Statti, the manager and sole employee of an obscure finance trading firm called Invexstar Capital Management Ltd. that was trading bonds with Tokyo-based Nomura.