Nomura cuts 18 Asia banking jobs as dealmaking slows -sources

SYDNEY :Nomura Holdings Inc has cut 18 Asian banking jobs, most of them China-focused investment roles, after a sharp slowdown in dealmaking activity, according to two sources with direct knowledge of the matter.

Nomura in a statement acknowledged headcount reductions but did not comment on locations or the number of individuals affected. The bank, which has long struggled to expand its business outside Japan, advised on $3.42 billion in equity capital market deals last year across Asia Pacific, including its home base in Japan, a sharp drop from $9.4 billion in 2021, according to Refinitiv data.

Those include some bankers covering Greater China equities capital markets, the sources said, and are likely to impact the bank's ability to operate in that area of investment banking.

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