Japanese bank Nomura hired three former Lehman Brothers executives for its fixed-income group in New York, Leveraged Finance News has confirmed. The move is part of the bank’s efforts to expand its fixed income group.
Peter Hornick joined Nomura as head of fixed-income sales for the Americas. He was most recently with Deutsche Bank, which he joined last November as head of credit sales. He was previously the global head of Lehman’s CDO group and had worked as a derivatives trader for Merrill Lynch.
Former Lehman executives Arang Varadhachary, who was most recently with Deutsche Bank, and Jock Jones, who came from Barclays, were named co-heads of global credit products for the Americas at Nomura.
The additions to Nomura’s fixed income group are part of a larger expansion effort at the bank in its fixed-income division. A bank spokesman confirmed the new hires but declined to comment further on the expansion effort.
In July, Head of Global Fixed Income Tarun Jotwani said that Nomura has been actively building out its global fixed income 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.