One institution that probably wouldn’t even make the fall-back list for our hypothetical graduate is Nomura. I have written at length about the missteps at the Japanese firm. However, even I was taken aback to read that Italian prosecutors tried to seize some €1.8 billion of assets from Nomura as part of a probe into Banca Monte dei Paschi di Siena’s use of derivatives to hide losses.
Apparently, Sadeq Sayeed, a former European head at Nomura, and Raffaele Ricci, a managing director in fixed-income sales, are also being investigated for colluding to obstruct regulators.
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