Nomura tops up its Hong Kong team in spite of 2023’s cuts
Nomura might have cut back its Hong Kong team at the start of the year, but that doesn’t mean there isn’t room to expand through it.
One of the people in that expansion is Sachin Tulshyan. Tulshyan joined Nomura last Thursday as a Managing Director (MD) in the Asia ex-Japan (AEJ) equity products team. He had spent 16 years at Citi before that, having joined as a VP in the bank’s equity derivatives trading team. Tulshyan was made an MD in 2021, and was working the India & emerging markets trading desks before joining Nomura.
Nomura’s cuts in Hong Kong earlier this year mostly hit its investment banking team, from what we’ve seen. That’s understandable; after a poor 2022 for M&A and capital markets opportunities, it’s not looking like 2023 will be bringing them back. Traders, however, are still very much in business – there’s a reason hedge funds are seeing a “feeding frenzy” for talent. Tulshyan certainly fits the bill.
It’s not just Tulshyan that’s joining Nomura in the city, either. The bank has signaled its intent to add over 40 new relationship managers to its AEJ private banking offering.
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