Nomura loses key banker after only 18 months

THE global co-head of the financial institutions group (FIG) at Nomura has quit after less than 18 months with the Japanese bank. He is one of a number of high profile Nomura bankers to have left the bank within the past year.

Dan McNamara, who was global co-head of the FIG business with Hubert Bastide, has resigned with immediate effect. London-based Bastide is currently acting as sole global head, a position he will continue to hold.

Nomura said yesterday that Petter Sternby would become head of the bank’s Asian FIG group.

McNamara joined Nomura at the end of 2009 from Citigroup, where he was co-head of investment banking for Asia-Pacific.

Yesterday sources said he was leaving the bank to go to the US where his family live. They said he did not have a job to immediately go to.

Nomura’s FIG team has lost four other high profile executives since the beginning of last year and last week the bank suffered the blow of not being chosen to work on the LSE’s £4.3bn merger deal despite being the LSE’s corporate broker. Nomura says that it fares comparatively well in retaining employees.