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Nomura Taps Wall Street Veteran to Revive Investment Bank

  • Christopher Willcox replaces Steve Ashley as head of wholesale
  • Overseas business has lost money 8 out of past 10 years
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Christopher Willcox spent decades rising through the ranks at Wall Street firms before landing at Nomura Holdings Inc. during one of the most tumultuous periods in the Japanese brokerage’s history.

Now, just 17 months after he arrived at Nomura to help run its US business, Willcox is tasked with turning around the firm’s global investment bank. He takes over on Saturday from Steve Ashley, 55, whose tenure was marked by overhauls, strategy changes and roughly $2 billion of losses tied to the implosion of Bill Hwang’s Archegos Capital Management.