Paul Norris is stepping down as senior managing director of the Japanese bank Nomura Holdings, Financial News reports. The departure of its international head of markets research is a part of the bank’s first phase of downsizing.
Norris helped develop Nomura’s equities research operations in Europe and was given charge of the U.S. and Asian research business in April 2010 before being elevated as managing director in March 2011. After Norris leaves, Nomura’s regional heads of equity and fixed income research will work under Hideyuki Takahashi, global head of research.
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