Nomura targets US in FX rebuilding effort

Nomura is rebuilding its foreign exchange sales and trading team in New York following the return of volatility to the markets and is refocusing its global business around Asian pairs and FX options.

The Japanese bank slashed headcount in the US in April last year following a review sparked by its poor fixed income performance at the end of 2018. But as volatility has picked up, the FX business’s revenues have revived.

Rig Karkhanis, deputy head of global markets at Nomura, says that with