Nomura Securities has spent the last six months hiring more than 40 new officials for its fixed-income division, yet it says its work has just begun. Word on the Street last week was that the company was interviewing several members of the Prudential Securities MBS and ABS teams, just days after the public announcement that Pru was exiting the institutional bond business (see p. 1).

"We are talking with a series of individuals and groups including some people with Prudential," said P.J. Johnson, spokesman for Nomura. "If and when we make any decisions we will announce promptly as is our practice."

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