A brief history of (seemingly) pointless M&A hiring at Nomura in the U.S.

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Nomura is doing some big M&A hiring in the U.S., again. Yesterday it announced the acquisition of six managing directors for its New York-based team, including a new co-head of Americas M&A.

This is far from the first time Nomura has strengthened its U.S. M&A team. The Japanese bank also recruited lots of senior people in June 2013. It hired several other senior M&A bankers in November 2012. In 2010, it did some serious hiring for its U.S. media team and its U.S. natural resources and power team, and hired James DeNaut from Deutsche.

In 2011, DeNaut was made head of U.S. M&A at Nomura. DeNaut promptly proclaimed his urge to build U.S. market share. In 2012, he revealed his intention to hire 62 new managing directors and executive directors to Nomura's U.S. investment banking division over the next three years.

So far, so exciting. Except that, according to Dealogic, this has been the path of Nomura's U.S. M&A market share year to date since 2008:

2008=2.4% (ranked 22nd)

2009=2.1% (ranked 20th)

2010=1.5% (ranked 27th)

2011=0.6% (ranked 35th)

2012=2.6% (ranked 21st)

2013=0.4% (ranked 49th)

Is that progress?





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