Japanese industrial and financial conglomerate Nomura has cut up to 12 legal positions in London.
The firm took over dissolved Lehman Brothers’ European and Middle East equities & investment banking operations, leading to redundancies. Lawyers at both Lehman and Nomura were targeted.
The Tokyo bank expects more cuts.
The Nomura Group saw its beginnings in Osaka in 1919. The group is involved in numerous industries, from oil and gas to construction, chemicals and foodstuffs. It is best known internationally as a financial powerhouse.