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Nomura cuts about 10 investment banking jobs in Hong Kong

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SYDNEY : Japanese investment bank Nomura Holdings has laid off about 10 of its Hong Kong-based investment bankers, including some who were focused on China-related deals, said two sources with direct knowledge of the matter.

The sources, who spoke on condition of anonymity because they were discussing confidential information, said the cuts were announced this week, and ranged from junior to top-ranking bankers, including managing directors and executive directors.The Japanese investment bank has seen its China-linked fortunes slipping lately.

Nomura did not feature on the league tables of the top 25 advisors on China-related buyout deals compiled by LSEG for the first nine months of the year. Leading U.S. and European banks, such as Goldman Sachs, Bank of America, Citigroup and UBS, have launched rounds of layoffs this year in their Asia investment banking units.

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