Another two rates traders have left Nomura.
The Japanese bank isn't commenting on the exits, but sources say that both Brett Hipkiss, a senior trader hired from HSBC in September 2020 and Joe Holden, head of EUR Swaps Trading in London, have quit. It's believed that they're joining a US bank, although we understand that this bank is not Bank of America - which is on a trader hiring spree in Europe.
The latest two exits from Nomura's business come after Luke Parker, a senior Nomura rates trader, quit to become head of rates at Lloyds Banking Group last month. James Konrad, the former head of European government bonds at Nomura and Biagio Lapolla, a European government bond trader also left Nomura for Citigroup in April. But Pasquale Cataldi, the former head of digital markets at JPMorgan, has just joined as head of rates trading.
Cataldi has plenty of gaps to fill. Nomura pays bonuses in May, meaning that its traders tend to quit later in the year than at rival banks. Rates hiring is hot as banks strengthen desks to take advantage of revenue opportunities in a volatile market. Nomura had a strong rates and macro business historically, and is a popular place to shop for talent.
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