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Nomura signalled its appetite to become a above force in European
investment cyberbanking bygone afterwards accepting Lehman Brothers'
London equities and investment cyberbanking business in a accord that
will save 2,500 jobs.
Japan's bigger investment coffer said the mistakes fabricated
by all-embracing rivals had accustomed it to fulfil its long-held
appetite of acceptable a above amateur in Europe. The coffer will
appoint just over 2,500 Lehman employees, with the all-inclusive
majority to be based at the broke US bank's appointment at Canary Wharf
in London's Docklands. The accord leaves the approaching changing of
about 2,000 agents in London, alive in businesses such as fixed- assets
and asset management.
PricewaterhouseCoopers (PwC), the administrator, said it had accustomed "tentative" absorption in these.
Nomura said it had taken on neither assets nor liabilities from
Lehman's antithesis area and that the bearding amount it had paid was
"nominal".
Asked how big Nomura advised to become, Sadeq Sayeed, chief
adviser to Nomura's board, said: "Big," abacus that the mistakes of
rivals had accustomed Nomura to capitalise on its advisable
balance-sheet management.
"Over the endure 20 years, Nomura has not punched its weight in
all-embracing markets. It has approved to buildbusinesses in
all-embracing markets with capricious degrees of success," Sayeed said.
"We accept been searching for opportunities alfresco Japan for some
time... We accept apparent that acceleration is a appropriate we
appetite and change is something we are not abashed of." The accretion
of the business follows Nomura's $225m (£121m) takeover of Lehman's
Asian operation the day before. The aggregation exhausted Barclays to
access the European equities assemblage because Nomura capital to yield
on the investment cyberbanking business too.
The bigger the sale, the bigger for creditors because agent
liabilities will be transferred to Nomura, PwC said. Nomura and
Barclays accept bought the lion's allotment of Lehman's assets back its
defalcation endure week.
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