Nomura - Differentiation

Is there anything one should really remember when applying for Nomura? I mean is there something that differentiates them and that they are proud of?

I've scanned the website, but it's absolute rubbish.

Comments (31)

 
Aug 9, 2010 - 5:27pm

What's the deal with Nomura? (Originally Posted: 11/09/2010)

I'm sure you all have seen the rumors that they are looking for acquisitions, singling out Jefferies. I guess the US organic strategy hasn't worked - you can buy people, but you can't buy pipeline.

Why would a place that wants to be a bulge bracket player in the US buy a middle market shop?

 
Aug 9, 2010 - 5:30pm

How do you think BB became BB.....consolidation with smaller and or equal size shops that had a competitive advantage and allowed it to cross market products and services?

"Greed, in all of its forms; greed for life, for money, for love, for knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA."
 
Aug 9, 2010 - 5:31pm

That's very odd. Glenn Schiffman has been making all sorts of noises about taking over the world. At least thats what he's been telling his people. And then you have the Shogun from Tokyo saying they just want to have a credible presence.

People are always afraid that if NMR NY can't deliver the pipeline to justify its crazy expansion, the Japanese are going to pull the plug pretty quick.

 
Aug 9, 2010 - 5:34pm

Nomura - Acquisition of Lehman's Asian assets (Originally Posted: 10/07/2009)

How do you guys view Nomura a year after its acquisition of all of Lehman's Asian assets and most of Lehman's European assets?

Has the culture shifted more towards a Lehman-esque one, or is it still heavily influenced by its Japanese forebears?

How do they compare to the major Western I-banks in NYC and London?

What is the risk-taking culture like? Do they do much prop? Or are they a flow business?

How are they in FX/Rates/Credit/Equities?

How are their options businesses?

I'm asking because it seems they have bought up quite a lot of good people in the last year from major shops (at no small cost to the firm), and I was wondering what their reputation is like one year on.

Any comments would be appreciated.

 
Aug 9, 2010 - 5:41pm

as somebody from Nomura in europe mentioned to me once: "when it comes to winning mandates Nomura is like the ugly chick at the beauty pageant"

though most of the people I met there were pretty laid back, seemed to enjoy the culture. On the other hand I also heard story of interns who pulled all nighters their first night on the job.

they got a cool new office in the city now. havent seen them on anything in the m&a world though. they also seemed to have problems having kids stick around after getting offers there.

"too good to be true"

See my WSO Blog

 
Aug 9, 2010 - 5:42pm

Thanks for an interesting insight. you do know how the story og the ugly chick goes, don't you :-)
On a more serious note, isn't it that their ibd is legacy LEH? That should position them pretty well vis-a-vis the competition, I'd have thought...

GBB_19NHS:
as somebody from Nomura in europe mentioned to me once: "when it comes to winning mandates Nomura is like the ugly chick at the beauty pageant"

though most of the people I met there were pretty laid back, seemed to enjoy the culture. On the other hand I also heard story of interns who pulled all nighters their first night on the job.

they got a cool new office in the city now. havent seen them on anything in the m&a world though. they also seemed to have problems having kids stick around after getting offers there.

 
Aug 9, 2010 - 5:52pm

GBB_19NHS:
as somebody from nomura in europe mentioned to me once: "when it comes to winning mandates nomura is like the ugly chick at the beauty pageant"

though most of the people I met there were pretty laid back, seemed to enjoy the culture. On the other hand I also heard story of interns who pulled all nighters their first night on the job.

they got a cool new office in the city now. havent seen them on anything in the m&a world though. they also seemed to have problems having kids stick around after getting offers there.

In M&A, Nomura was on IPR-GDF (largest M&A deal in Europe and 2nd largest in the World in 2010):
http://www.bloomberg.com/news/2010-08-10/gdf-set-to-pay-92-pence-a-shar…

 
Aug 9, 2010 - 5:43pm

yeah technically LEH. I think though their Europe business was nowhere near as strong as their US operations. plus the integration with the japanese seemed not to work so great.

I met a bunch of people from there and most of them were ex-LEH guys but they have lost a lot of momentum and are still struggling with the changes. If you see their new office on the other hand it seems like they are planning to expand a lot in the next few years.

from the guys that interned there (about 5 i know) most of them jumped ship after the summer.

"too good to be true"

See my WSO Blog

 
Aug 9, 2010 - 5:44pm

I know that at least at my school, tons of kids got banking and trading summer gigs and parlayed them elsewhere for FT with little desire to stick around. No idea on the professional's perspective though.

I am permanently behind on PMs, it's not personal.

 
Aug 9, 2010 - 5:48pm

They're not a BB, but they're actually pretty decent in Europe.

Yes, their IBD is legacy Lehman, but their lacking US presence is a huge detriment. They've also lost some pretty prominent ex-Lehman bankers (most recently Christian Messiner and Adrian Mee). However, Nomura's head of IB, William Vereker, is still widely respected, and they also recently picked up Piero Novelli as head of M&A (was formerly head of M&A at UBS). This should help them in winning some mandates.

I think the issue with Nomura is that they've become focused on building out their US operations as opposed to strengthening their EMEA platform. A lot of people have been highly critical of this.

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