Nomura hired 700 people in London last year; recruitment in 2010 was merely an aberration

Something curious has happened as far as headcount at Nomura in London is concerned.

When he turned up this week to open Nomura's new office, the bank's Japanese president Kenichi Watanabe declared that Nomura had hired 700 people in the London "alone" over the previous 12 months according to City AM.

Really?

Nomura's moving 3,500 people into its new building, and based on this Financial Times it has another 500 people secreted in alternative locations.

If Nomura hired 700 people in London last year, that would therefore imply a 17.5% increase in its headcount.

This seems strange given that between March and September 2010, European headcount at the bank rose by a mere 102 people.

We conclude either of two things. Either's Nomura's been doing an enormous amount of hiring since September, or it's been letting go of people as it hires them.

Nomura didn't return a request for comment.

2010 hiring was an abnormality: it won't happen again this year

Separately, Robert Walters (he with the recruitment firm named after him) has rained on the 2011 City recruitment parade.

According to Robert, last year's financial services recruitment was an unrepeatable correction, the likes of which will not be seen again in 2010.

"Banks had made savage cuts during the financial crisis and they needed to replenish staff quickly. But that was a one-off," he said, depressingly.

This year, Robert says no one's moving because no one's sure how much they should be earning.

Last year, Robert Walters placed 2,000 people in jobs in the City. It is possible that some of them may have gone to Nomura.