Thomas Siegmund, co-head of fixed income Asia ex-Japan at Nomura, has stepped down, leaving Jai Rajpal as the sole head of the division. Siegmund and Rajpal were appointed as co-heads in November 2008 after Nomura took over Lehman Brothers, their former employer.
Rajpal's appointment as sole head was made prior to the beginning of the fiscal year. As one source said It was optimal to have a centralised decision-making structure in place to drive strong local regional management in the fixed-income business.
A spokesperson from Nomura wasn't able to comment on the reasons behind Siegmund's resignation or what his future plans entail.
Rajpal has nearly two decades of fixed-income experience in Asia....