Power moves only over at 200 West Street.
You can lie all you want, just please, for the love of god, don't fabricate an email!
Let's give securities regulators a little more credit, OK?
And not for a congrats on a job well done.
A bunch of guys at Nomura know what we're talking about.
They're agreeing to disagree on this one.
You've heard the argument "It's not a lie if you believe it," yes? Apparently it's also not a lie if you don't believe it but file it under an "opinion" versus a "fact."
The company is still in the firing phase of the rebuilding process. Nomura Holdings cut a team of London proprietary traders focused on stocks as Japan’s largest brokerage scales back in Europe, said two people with knowledge of the matter. The group of about five traders was part of Nomura’s Angel Lane Principal Strategies, a unit that makes speculative wagers on markets with capital provided by the Tokyo-based bank, according to the people, who declined to be identified because the job cuts haven’t been announced. The team departing this week was led by Anthony Medina, a volatility trader who used options to bet on fluctuations in the prices of stocks, the people said. The departures are part of Nomura’s plan to reduce costs by $1 billion, with almost half the savings coming from Europe. The revamp in strategy follows a four-year struggle to build a business overseas following the purchase of Lehman Brothers Holdings Inc.’s European and Asian units in 2008. Nomura Said To Cut Team Of Proprietary Traders Focused On Stocks [Bloomberg]
Things could be better in Europe. Big investment banks in Europe, including Nomura, Credit Suisse and UBS, are stepping up plans to cut jobs as they seek to adapt to a drastic slowdown in revenues and tighter regulation. Bank executives, headhunters and analysts say that the cuts are shaping up as the deepest since the start of the financial crisis after a disappointing summer dashed hopes of a business revival. One senior headhunter said many large investment banks will have “at least 20 per cent” fewer staff in capital markets and M&A advisory business in Europe by the end of the year compared with late 2011. “It [the market] has never been as bad as this. Bankers have long lost confidence in their banks but now they are also losing their self-confidence, their mojo,” a senior advisory banker said. Among the banks that will reduce their investment banking workforce is Japan’s Nomura, where London-based bankers say that they expect several hundred jobs to be removed in Europe alone as part of a $1bn cost-cutting effort. Switzerland’s largest bank UBS, which cut staff levels earlier than rivals by announcing 2,000 job cuts in the investment bank after a $2.3bn unauthorised trading loss last year, is preparing for intensified cuts as it is seeking to streamline further the unit, several people familiar with the situation said. At Credit Suisse, insiders estimate that the additional SFr1bn ($1bn) in groupwide cuts that were announced in July will translate into up to 1,000 jobs being lost, most of which would be in the investment bank. Analysts expect also Deutsche Bank and Barclays to reduce their headcount further this year. Deutsche said two months ago it would reduce staff levels by 1,900. Investment Banks Eye Europe Job Cuts [FT]
Facilities that force employees to "hunker down." Notice of Convocation of the 108th Annual Meeting of Shareholders [Nomura Holdings]
Building 2 is home to Nomura Securities, among others. According to the Daily News reports the package is thought to contain a grenade. Update: Though initially worried about what was going on, Nomura employees are apparently "pretty calm right now" and "gathered at a local bar waiting to see what's next." Nomura NY Offices Evacuated Due To Suspicious Package, Traders Say [MarketBeat] NYPD Investigating Suspicious Package at World Financial Center [Bloomberg] World Financial Center evacuated after suspicious package found [NYDN]