India is hit hard in Nomura downsizing

The investment bank lets go of nine people in India, including three MDs.

Further to the story published by FinanceAsia on Friday, it transpires that India has been hit hard by Nomura's announcement that it is reducing its headcount by about 50 people in Asia ex-Japan. Of the 26-strong investment banking team in India, the Japanese bank will let go of nine people.

The bankers who are leaving include some of the most senior staff Nomura had on the ground in India, corroborating once again that the current rounds of headcount reductions,...

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