Nomura yesterday rescued another 2,500 Lehman employees after the Japanese bank reached an agreement to acquire the US bank's equities and investment banking business in Europe and the Middle East for an undisclosed sum.
The Tokyo-based bank said it expected to retain a “significant proportion” of Lehman's 2,500 employees, although some would inevitably leave. Nomura is not buying any trading assets or liabilities from Lehman.
Sadeq Sayeed, senior adviser to Nomura's board in Japan, said the bank had reached agreements with the top people in the each business line. “Slavery was abolished a long time ago. We cannot control people in any other way apart from creating an environment which is conducive to them,” he said.
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