Nomura confirmed a new strategy to cut costs across the business, as revenues plummet and the business suffers a quarterly loss.
Corporate and investment banking division saw a difficult first quarter this year, as profits fell to £701 million.
Following the sale of KCG’s DMM business, CEO at KCG said he expects headcount will not go above 950 again.
Market maker’s trading operations see strong first quarter, in sharp contrast with banks who have seen falling trading sales.
Market maker confirms its global head of FICC, Isaac Chang, has left the company.
Frank Drouet will take over as head of global markets, replacing Daniel Fields.
FICC revenues down 47% in the first quarter of 2016.