Nomura: Europe’s quick re-think turns crisis into an opportunity

The news comes down that your firm is getting out of European cash equities and equity capital markets, ending the jobs of the research analysts that used to cover many of the same corporate clients your coverage teams pitch for business. 

That is a loss of regular contact with those CFOs and the CEOs at earnings calls and strategy reviews; an end to introductions arranged for them to new institutional investors from your firm’s large home market; and, of course, no more equity capital market revenue to pitch for.