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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Analysis:China holds the key to Hong Kong's shrinking stock marketHONG KONG : Hong Kong's efforts to revive its shrinking stock market are mere stopgap solutions, as analysts say a reversal in fortunes for Asia's premier financial hub would not be possible without a major improvement in China's economic prospects.
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