Most senior foreign exec quits Nomura

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  • 0

    ironchef

    and someone needs to wipe that smirk off of Shibata's face.

  • -2

    tmarie

    handed in his notice after being unable to galvanize support for a more radical shake-up of the bank’s global operations,

    And the Japanese continue to burying their heads in the sand all the while thinking that things will just get better if they continue doing what they are doing... When will this death wish end??

  • 0

    GG2141

    When will this death wish end??

    20 years and counting......so maybe.......never!

    Having dealt with Japanese management I can totally sympathise with Bhattal. I do note a few foreign heads rolling these days. Bhattal quit, but I do wonder if Mr. Olympus' and his weird situation has not given fuel to boardroom power freaks. It's always an easy sell to bad mouth the high profile minority when you want to advance yourself.

  • 0

    gogogo

    Japan Inc hits again.

  • 0

    paulinusa

    "he company began an aggressive expansion drive when it bought Lehman Brothers’ European and Asian businesses in 2008. But profitability has proved problematic and its stock price has dropped around 80% since then."

    Europe might have been problematic but there's no excuse for not making a sizable profit in expanding Asia.

  • -1

    globalwatcher

    he believed were needed to right the bank and improve its bottom line,

    No surprise here. It has been speculated. This is a big loss for Nomura. Many more will follow.

  • -1

    j4p4nFTW

    It's little wonder that Nomura has had troubles expanding overseas when they were forced to take on the executives who drove Lehman Brothers bankrupt as part of their deal with the Fed and SEC in 2008 that allowed them to acquire Lehman's Asian operations in exchange for certain perks with regards to their US operations. Then you have the fact that the foreign media has constantly published these hit pieces on Nomura, saying things such as, "the difficulties Japanese firms have as they try to branch out abroad and adopt Western business models." What Japanese firms have had difficulties? Toyota? Sony? Canon? Sharp? Shisedo? Komatsu? What are these people talking about? Japanese firms are leading the way, and yet we have reporters making these fantastical, untrue claims. Nomura is simply a victim of a financial journalism culture that simply cannot stand seeing them be successful.

  • -1

    globalwatcher

    Nomura is simply a victim of a financial journalism culture that simply cannot stand seeing them be successful.

    NO!!! Do not blame on journalism for no reason here.. How long did it take for Nomura to move assets allocation from Euro that caused a good chunk of loss. It could have been well avoided.

  • -2

    herefornow

    and his resignation further highlights the difficulties Japanese firms have as they try to branch out abroad and adopt Western business models.

    Says it all. Japan's isolation and inability to develop managers who can think multi-culturally will lead to its continued decline in a 21st century global economy.

  • 0

    catiano

    the japan mansion is on fire but the people there haven't noticed and are still playing with toys like spoiled, ignorant kids.

  • 0

    globalwatcher

    It's little wonder that Nomura has had troubles expanding overseas when they were forced to take on the executives who drove Lehman Brothers bankrupt as part of their deal with the Fed and SEC in 2008 that allowed them to acquire Lehman's Asian operations in exchange for certain perks with regards to their US operations.

    j4p4nFTWJan. 12, 2012 - 02:09PM JST

    Do not shift a blame on the US govt. Nobody in the US govt pointed a gun at Nomura and forcing them to buy a piece of failing Lehman. Blame on a poor underwriters job of Nomura. They could have simply walked away from the deal, period.

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