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Japan's top investment bank CEO resigns

07-27-2012 04:30 BJT

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The CEO of Nomura Holdings Inc, Japan’s top investment bank, has resigned. Kenichi Watanabe stepped down over a widening insider trading scandal. Nomura’s chief operating officer, Takumi Shibata, has also resigned.

The management shake-up of Japan’s top investment bank was confirmed in a news conference in Tokyo. Watanabe will be replaced by company veteran Koji Nagai. Nagai said he would map out a "new global strategy" for the company. He added that he had no intention of dropping Nomura’s international ambitions, but suggested he may pursue further restructuring overseas.

The scandal that brought down the bank’s leaders dates back to 2010. Nomura has confirmed it was the source of leaks on planned share offerings by energy firm Inpex Mizuho Financial Group and Tokyo Electric Power.


Editor:Zhang Dan |Source:

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