February 21, 2018 / 10:03 AM / in a year

MOVES-Nomura sets up financing and solutions units

LONDON, Feb 21 (IFR) - Japan’s Nomura is creating new client financing and solutions businesses in each of the international regions in its wholesale bank, as part of a push to expand financing, capital and hedging for clients.

The CFS business will combine Nomura’s existing global finance teams and parts of its solutions and structured financing teams from global markets into an integrated business line, according to a memo sent to staff on Wednesday and seen by IFR.

The memo said Patrice Maffre will be head of CFS in Europe, Middle East and Africa; Lee Olive and Eric Miller will be joint heads in the Americas; and John Goff will run the business in Asia, excluding Japan. Goff will also be global head of CFS Solutions.

The changes will take effect on April 2. The Japan business will be unchanged.

The memo, sent by wholesale banking head Steve Ashley and co-head of wholesale Minoru Shinohara, said they expect CFS to be “a major driver of profitability” under their medium term plan. It will span traditional financing activity as well as liability side financing and liability management.

The bank announced several other changes as part of the restructuring.

Henson Orser has been appointed global head of wholesale senior relationship management; Mark Cosaitis will become wholesale financial officer; and Chikashi Okabe has been appointed deputy wholesale financial officer. (Reporting by Steve Slater)

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