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FSA blocks banker from Nomura job

JAPANESE bank Nomura has failed in its bid to recruit a former Morgan Stanley banker as one of its new global finance bosses amid a clampdown on executive appointments by the City watchdog.

The Financial Services Authority (FSA) is understood to have blocked Nomura’s attempt to appoint John Hyman as its new co-head of global finance in London.

It is believed Hyman, former joint head of global capital markets at Morgan Stanley who left the group earlier this year, had his move blocked by an FSA-related issue. The FSA refused to comment.

The watchdog has tightened up on appointments following criticism that it may have fuelled the financial crisis by allowing firms to give key banking jobs to people lacking experience.

Hyman’s departure from Morgan Stanley earlier this year surprised the industry, but sources said it was not linked to a shake-up launched by incoming chief executive James Gorman.

Failing to get their man will disappoint Nomura given Hyman’s good reputation.

Nomura confirmed Hyman would not be coming on board, but declined to give further details.

Last week, the FSA said the former boss of RBS’s investment banking division, Johnny Cameron, agreed not to take another top job in the City or full-time role in UK financial services.

Cameron is understood to have decided against fighting the penalties following a year-long probe into controls at RBS’ global markets and banking division.