business

Nomura Said to Hire Brevan's Mohideen, Once Fired Amid Libor

Updated on
  • Mohideen was dismissed from RBS in 2012 and sued the lender
  • He’ll be Dubai-based global chief digital officer, wholesale

Nomura Holdings Inc. hired Jezri Mohideen, a former senior trader that Royal Bank of Scotland Group Plc fired amid its probe into Libor misconduct, according to a person familiar with the hire. He will be based in Dubai.

Mohideen started this week as global chief digital officer for the Japanese bank’s global markets and investment banking operations, according to the person, who requested anonymity as the hire hasn’t been made public. He will report to Steve Ashley, Nomura’s head of wholesale and global markets, and a one-time senior trader at RBS who overlapped with Mohideen at that bank.

Jezri Mohideen

Source: Royal Bank of Scotland Group Plc

Mohideen, who joined Nomura from the hedge fund Brevan Howard Asset Management, couldn’t immediately be reached by email or at his land line in Dubai. Nomura and Brevan Howard declined to comment.

Mohideen, who was former head of rates trading for Europe and Asia-Pacific at RBS, sued the lender for racial discrimination and unfair dismissal in 2014 and in the same year settled with the bank. Terms of that settlement were not disclosed at the time.

An instant-message conversation in late 2007 showed Mohideen, then head of yen products in Singapore, instructing colleagues to lower RBS’s London interbank offered rate submission, Bloomberg News reported in September 2012. RBS suspended him soon afterward and he left the bank in October 2012, according to the U.K. markets regulator’s register.

(Adds Brevan Howard declined to comment in third paragraph.)
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