If you're looking for a new quant trading job at a bank this autumn, you should probably not discount Nomura. While most banks are building their systematic trading teams, Nomura's e-trading strategy team is expanding faster than most.
The e-trading strategy team was formed in May 2019 in the wake of Nomura's April pivot which saw the bank downscale FX, emerging markets and credit trading in EMEA and the Americas. In May, 66 employees were reportedly told they were joining the team, run by Matthew Hampson, deputy chief digital officer, and Michael Anthony, head of US rates algorithmic trading, and reporting to Jezri Mohideen, the bank's chief digital officer.
Nomura wants to compete in fixed income quantitative trading powered by artificial intelligence, and the e-trading group is said to be tasked with developing an AI market-making platform and increasing fixed income trading revenues 15%.
Nomura declined to comment for this article, but sources said the group now employs 100 people, suggesting 34 people have been added in around four months. However, only six are understood to have been hired externally, suggesting most have been moved from elsewhere in Nomura. Further hires are expected into the group at all levels, with an emphasis on quantitative skills, technology skills (Java as a minimum) and an understanding of the business and market structure.
The flow of talent isn't all one way, however. While Nomura's hiring, people are also leaving. David Swedensky announced this week that he's quitting Nomura after nearly 18 years. Swedensky was one of Nomura's two leading EMEA e-trading strategists (with David Hampson). He's understood to be starting a new role elsewhere in October.
Photo by Marc Sendra Martorell on Unsplash
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