Nomura raids senior ranks at RBS investment bank

Nomura has bolstered its ranks with a series of senior departures from Royal Bank of Scotland in recent weeks as another investment bank takes advantage of the exodus from the state-owned institution.

In the past two months, four managing directors from RBS’s investment bank have joined Nomura, as well as a number of new recruits at a more junior level.

Jonathan Harding, head of EMEA local markets sales at RBS, joined Nomura as head of emerging markets macro sales in October. Another senior salesman – Henry McWatters, a managing director in UK equity derivatives sales at RBS – also signed up to the Japanese bank in October in a similar role.

Meanwhile, John Lawler, a managing director in RBS’s asset backed securities team, joined Nomura in November as did Ralph Maison, head of index options at the Scottish bank.

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There are signs that at least some junior staff are also being brought across with the MDs – Chimdi Momah, an ABS and mortgage strategist at RBS, also signed up to Nomura earlier this month, and Richard Langdon, who worked in equity derivative sales at RBS, also joined in November.

RBS has been something of a revolving door for investment bankers, following its decision to exit equities, M&A, equity derivatives and structured retail products last year. However, it’s also been losing bankers from its fixed income division – notably, Sian Hurrell, head of EMEA sales, and Didier Chapet, head of rates sales for EMEA.

Nomura’s recruitment spree has largely been focused on the U.S., and predominantly in M&A. However, 28 people have joined the bank in the U.K. since July, according to the FSA register.