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Report: Nomura cuts jobs in Asia equities biz

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Report: Nomura cuts jobs in Asia equities biz

NomuraHoldings Inc. cut up to 30 jobs in its Asia equities business,Reuters reported April 14, citing "a person with direct knowledge of thematter."

The Japanese firm slashed 20 to 30 jobs in its equitiesbusiness for Asia excluding Japan. The cuts are related to annual performanceand not to its partialretreat from Europe and the Americas, the person said.

The company recently said it will close certain businessesin Europe, the Middle East and Africa. The brokerage added that it will"rationalize certain areas" in the Americas.

Meanwhile, Michael Kurtz will leave as Nomura's global headof equity strategy and chief strategist for Asia excluding Japan, according toan internal memo seen by Reuters.

A Nomura spokesman confirmed the contents of the memo butdeclined to comment on the job cuts.