Back in the USA

6 October 2009 By John Foley Follow @johnsfoley

The Japanese bank has come unstuck in the US before. But having acquired Lehman in Europe and Asia, it has to have a credible US limb. Doubling its headcount to 1,200 in little over a year carries risks. But at least it isn t trying to compete headon with the bulge bracket.

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Nomura, the Japanese bank that bought Lehman Brothers' Asian and European businesses in September 2008, plans to increase its headcount in the US to around 1,200 by March 2010, according to people familiar with the situation, from 600 at the beginning of January.

Prominent new US hires included former Bank of America executive Ciaran O'Kelly, who joined as head of Nomura's US equities business. The bank also aims to hire in fixed income and investment banking, according to a person familiar with the situation.

Nomura priced a $4.8bn offer of new shares on October 4, with the proceeds earmarked for expanding its business in Asia, Europe and the US. That followed a $3bn share sale in March.

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