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Nomura CEO Signals More Job Cuts in Europe to Reverse Losses

  • Firm needs to control ‘excessively large costs,’ Nagai says
  • Says client activity in the region ‘weakened significantly’
Pedestrians are seen walking across a bridge at the U.K. headquarters of Nomura Asset Management Ltd, right, part of the Nomura Holdings Inc group, in London, U.K.

Pedestrians are seen walking across a bridge at the U.K. headquarters of Nomura Asset Management Ltd, right, part of the Nomura Holdings Inc group, in London, U.K.

Photographer: Simon Dawson
Updated on

Next year is shaping up to be another tough one for Nomura Holdings Inc.’s employees in Europe, with more job losses likely as the Japanese securities firm shifts business away from the region to more profitable centers in Asia and the U.S.

Japan’s biggest investment bank needs to cut staff while finding ways to spur revenue in the region, Chief Executive Officer Koji Nagai said. “We have to bolster our top line and control these excessively large costs,’’ he said in an interview in Tokyo.