JAPANESE investment bank Nomura has appointed two former Lehman Brothers dealmakers as joint heads of its equities business for Europe, the Middle East and Africa.
Abdelkerim Karim and Sam Ruiz take the helm of the unit on 1 April, having joined the Tokyo-based group after it bought Lehman’s European operations in 2008.
Ruiz, currently in charge of equities trading for EMEA, worked at Lehman for nearly 20 years and was head of trading for Europe when the arm’s American parent collapsed.
Karim spent nine years at Lehman, running the equity derivatives quant team and then heading up its equity structured products department focusing on EMEA.
The news comes a fortnight after the architect of Nomura’s takeover of parts of Lehman’s business unexpectedly stepped down. Sadeq Sayeed, Nomura’s chief executive for EMEA, said he would retire after 10 years at the bank. His departure sparked speculation Nomura was finding it difficult to assimilate Lehman’s corporate culture two years down the line.
Nomura’s takeover of Lehman’s European arm marks an intention to compete in the top tier globally.