Nomura has become the latest global investment bank to scale back its Australian equities business, in a move that will see head of equities Andrew Norman and about 30 employees let go. The Tokyo-based investment bank is aligning its local operations with a global model that combines equities and fixed income. Nomura made an aggressive push into Australia in 2010, raiding a group of analysts and sales traders from RBS ahead of an anticipated uptick in corporate activity that didn't eventuate. (VIEW LINK)
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