RIG Karkhanis, head of global markets at Nomura Holdings, is moving back to Singapore after a short stint in London revamping the business and making a slew of executive hires, according to a memo.
Karkhanis, who relocated to London a year ago, will be returning to Asia along with the unit’s chief operating officer Aleem Jivraj. The two executives were promoted to their current roles in March last year. A Hong Kong-based spokesperson confirmed the contents of the memo.
Under Karkhanis’ leadership, the global markets division added more than 400 people last year – the largest hiring ever, to diversify the business mix and deliver stable earnings while cutting non-revenue generating roles. The Tokyo-based brokerage is targeting 20 per cent revenue gains for the global markets unit over the next few years, he said.
Among the key hires in the past year were Andrew Kellner, global head of business resource management, Hemish Shah as head of flow rates in Europe, the Middle East and Africa (EMEA), and Ruchir Sharma as global head of forex option trading. Nat Tyce, formerly with Barclays, joined in June 2023 to lead the markets business for EMEA, taking over from John Goff, who was named global head of structuring.
“Our success in EMEA is critical to the global GM plan and mid-term ambition. I am confident that with the hard work and dedication of our talented team, we will further progress on our plan,” Karkhanis said.
In Asia outside Japan, the markets division has also hired more than 20 staff to expand its equity derivatives, flow and structured financing businesses, Karkhanis said. BLOOMBERG
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