Japanese bank Nomura has reportedly appointed a former Lehman Brothers banker as its cohead of fixed income for the Americas. The bank has been increasing its U.S. staff and plans to continue expanding within fixed income.
Nomura named Jeffrey Michaels to serve as cohead of the Americas group, along with former Lehman Brothers banker Charles Spero, according to the Financial News. Michaels was most recently head of trading in North America for Citigroup, which he joined after Lehman.
The appointment comes as part of the bank’s increasing attention to fixed income. Last month, Nomura hired three former Lehman Brothers executives, Peter Hornick, Arang Varadhachary and Jock Jones, for its fixed income group in New York.
In July, Head of Global Fixed Income Tarun Jotwani said that Nomura has been actively building the global group as it moves to become a larger investment bank.
Nomura announced in July that it was designated as a primary dealer by the Federal Reserve Bank of New York.
A Nomura spokesman was not immediately available for comment.