Nomura India's top three executives quit

As a part of the Japanese bank's plan to save costs, Nomura India's investment banking head Nipun Goel, Indraneil Borkakoty and Shubham Majumder quit.

FP Archives|Dec 20, 2014, 05:14:17 IST

Mumbai: Nomura Holdings head of India investment banking Nipun Goel and two other senior investment bankers have quit as part of the Japanese bank's plan to save costs, two sources with direct knowledge of the situation said on Thursday.

Indraneil Borkakoty, head of India equity capital market business, and senior M&A banker Shubham Majumder have also left, said the sources, who declined to be named as the information was not public.

[caption id="attachment_133118" align="alignleft" width="380" caption="Nomura Holdings head of India investment banking Nipun Goel and two other senior investment bankers have quit as part of the Japanese bank's plan to save costs. Reuters"][/caption]

Nomura India spokeswoman declined to confirm the names.

"We are not providing details of individuals. However, at the time of its second quarter results, Nomura announced its intention to reduce its cost run rate by $1.2 billion, and we are in the process of executing that plan as quickly as possible," she said in an emailed statement.

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