Nomura CEO Quits In The Wake Of Insider Trading Scandal

Nomura’s CEO Kenichi Watanabe and COO Takumi Shibata resigned from their posts at the Japan-based investment bank today amid an insider trading scandal, Bloomberg News reported.

According to the report, Watanabe bowed and apologized before reporters during a news conference taking responsibility for the matter. 

Here’s an excerpt from the bank’s release [.PDF]

Tokyo, July 26, 2012—Nomura Holdings, Inc. today announced a new management lineup
effective August 1, 2012.

Koji Nagai, currently President of Nomura Securities, will take over from Kenichi Watanabe as Group CEO. Atsushi Yoshikawa, currently Regional CEO of the Americas, will take over from Takumi Shibata as Group COO and CEO of the Wholesale division.

Nomura faces a rapidly evolving business environment marked by instability in Europe and global regulatory tightening. Under new leadership, Nomura will build a new global business model that allows the firm to remain flexible and adapt quickly to the changing environment.

Nomura will remain committed to growing as Asia’s global investment bank and will continue to build on its many key achievements over the last three years.

Regulators accused a bunch of Nomura’s sales people of allegedly leaking inside information on share offerings to certain clients before the information was made public.  

Nomura conducted an internal investigation where the bank conducted that some of its employees shared non-public information on at least three public offerings in 2010, Dealbook reported

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