NEW YORK, Nov 16 (IFR) - Nomura has hired three managing directors for its emerging markets group in New York following the departure of much of its EM sales and trading team to Jefferies earlier this year.
The Japanese bank is bringing in Karan Madan as head of emerging markets, Americas, to expand its EM macro, credit flow and structured products.
JP Alvarado has joined Nomura as head of Latin America credit trading along with Siobhan Morden, who will head Latin America fixed-income strategy.
Madan will report to Jonathan Raiff, head of global markets Americas, while Alvarado will report to Madan and Morden to Alvarado.
Madan and Alvarado held in similar roles at Barclays, while Morden was head of LatAm strategy at Jefferies.
This comes after much of Nomura’s EM sales and trading team moved to Jefferies this year, including Adam Groothuis, who headed Latin America credit trading, Javier Kulesz, senior desk analyst, and Jonathan Joseph, a managing director in sales.
Alex Atallah and John Salveson on the sales side as well as fixed income traders Ben Gird and Justin Weinberg also left Nomura for Jefferies, as well as analyst Jefferson Finch. (Reporting by Paul Kilby; Editing by Marc Carnegie)