Japanese bank Nomura has hired Steven Downey as head of equities trading, EMEA and co-head of derivatives, EMEA. Downey is charged with leading Nomura’s equities trading platform and enhancing the firm’s ability to deliver risk management abilities to clients.
Based in London, Downey reports to Sam Ruiz, head of equities, EMEA, and Christian Dalban, global head of equities trading. He also joins the firm’s European equities executive management committee.
Downey will manage a team to generate alpha for Nomura’s clients. Working alongside Makram Fares, co-head of equity sales, and co-head of equity derivatives, EMEA, he will focus on broadening the firm’s distribution and expanding its derivatives business globally.
Downey joins from UBS, where he was most recently head of equity derivatives trading, EMEA. He graduated from Queens University Belfast with a BSc in computer science and an MSc in mathematical trading and finance from Cass Business School.
Nomura announced cost cutting efforts in its quarterly results statement in November, which will reduce headcount in the firm’s European operations. The firm reported its first quarterly loss in two and a half years.