Nomura’s Rates Trading Team Undergoes Changes
Recently, there have been significant developments within Nomura’s rates trading team. According to eFinancialCareers, individuals from Barclays have joined the team, while those who had previously worked at NatWest (RBS) before transitioning to Nomura have departed.
John Gorman’s Resignation
One notable exit from Nomura is John Gorman, a seasoned rates trader with 14 years of experience at the firm and 13 years at RBS. Sources indicate that Gorman has resigned from his position in London, although Nomura has not provided any official comments on the matter.
Gorman held the role of head of non-yen rates trading in Tokyo until 2020 when he relocated to London. His tenure at Nomura began in 2011 when he joined from RBS, following the arrival of Steve Ashley, a former star macro trader at RBS, who brought in approximately 50 new hires.
However, Ashley departed Nomura in 2022, and the team has since undergone changes under the leadership of Nat Tyce, a former Barclays macro trader who assumed the role of global head of markets for EMEA in 2023. Tyce’s recruitment of Filippo Zorzoli from Barclays in September marked a significant shift within the team, with other non-RBS individuals like Kilian Frensch also departing.
Implications of Gorman’s Departure
Gorman’s exit comes on the heels of Nomura’s decision to reduce its prop trading activities earlier in the month, indicating a broader restructuring within the firm.
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