Euromoney FX survey 2010: Nomura: the one to watch?

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NOMURA HAS LONG been a force to be reckoned with in Japan, but the acquisition of the Asian and European businesses of Lehman Brothers in September 2008 could help the firm realize its global potential in FX. This has been reflected in its dramatic leap in the 2010 FX Survey, from 57th to 18th position.

But this performance needs to be taken in context. In 2008, Lehman ranked 11th for market share in Europe and fourth for market share in Asia.

"We have been able to forge relationships very quickly with many of the smartest accounts on the street" Richard Gladwin, Nomura

Lehman’s global head of FX, Richard Gladwin, joined Nomura in November 2008 and immediately began to build its FX business.

Gladwin says: "In the first six months we spent a lot of our time working almost entirely on infrastructure – on technology, legal arrangements, credit arrangements.