As part of changes, Tarun Jotwani has been promoted to executive vice president and head of Global Markets.
Jotwani will lead both fixed income and equities under a fully integrated capital markets platform, setting strategy, prioritizing resources and driving sustainable and profitable growth for all Global Markets businesses across all regions.
As Jotwani assumes expanded responsibilities, he will also transition out of his current role as CEO, Europe, Middle East and Africa.
Investment bank has appointed Benoit Savoret as new joint head of global equities, effective immediately, reporting to Jotwani.
Savoret has over 20 years of industry experience and spent 11 years at Lehman Brothers, where he served as chief operating officer in EMEA, head of European equities and prior to that he also served as head of Asia-Pacific equities.
Rachid Bouzouba, who played a key role in the integration and growth of Nomura’s equities franchise as joint head of global equities, is discussing alternative roles with Nomura.
John Phizackerley, currently joint chief administrative officer (CAO) of the wholesale division, will succeed Tarun as CEO of Europe, Middle East and Africa.
Phizackerley has spent over 20 years in the investment banking industry and will continue to deliver management as well as front-line business expertise to the region. His appointment is subject to regulatory approval.
Nomura said that Paul Spanswick will continue to lead the growth of the corporate platform as the sole CAO of wholesale, ensuring that it continues to benefit from his success across the organization.
Nomura’s Wholesale division president and chief operating officer Jesse Bhattal said that these appointments represent a critical next step in meeting the increasingly sophisticated needs of the global clients through an integrated product offering, building even greater partnership between the businesses and regions, and driving overall profitability across the firm.
