Reuters: Financial Services and Real Estate: Nomura hires ex-Diamondback, SAC Capital trader

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Nomura hires ex-Diamondback, SAC Capital trader Apr 27th 2012, 21:44 Fri Apr 27, 2012 5:44pm EDT * Nomura hires long-short equity trader Michael Rome * Rome specializes in industrial stocks * Part of Nomura push to expand U.S. investment bank By Lauren Tara LaCapra April 27 (Reuters) - Nomura Holdings has hired Michael Rome, a former trader at the hedge f unds SAC Capital and Diamondback Capital Management, for its U.S. equities trading business, according to three sources familiar with the matter. The hire is Nomura's latest as it builds its North American operation. The Japanese bank has staffed up and cut down its U.S. investment banking and capital markets business multiple times. The latest round of expansion began in 2009 after Nomura acquired Lehman Brothers' Asian and European businesses and sought to fill in gaps. Rome, who joined the Japanese bank in February, is now managing a long-short equity portfolio on Nomura's trading desk in New York, said the sources, who each requested anonymity to avoid damaging business relationships. Nomura spokesman Jonathan Hodgkinson confirmed that Rome now works at the bank but declined further comment. Diamondback spokeswoman Katrina Allen declined to comment. Rome also declined to comment when reached by phone on Friday afternoon. The bank launched a $1.2 billion, cost-cutting plan globally l ast year, but still continued to hire U.S.-based bankers, traders and research analysts from Wall Street competitors inc luding: Gol dman Sachs, Deutsche Bank, Citadel and Millennium Management. Nomura's U.S. operation now has 2,350 employees, more than double the 900 it had in March 2009, and plans to h ire more in the coming years. The bank recently signed a le ase for a larger New York office that would allow it to increase staff there by another 50 percent. Rome spent three years at Stamford, Connecticut-based Diamondback after stints at SAC Capital's Sigma Capital hedge fund and two other New York-based hedge funds, according to his broker report with the Financial Industry Regulatory Authority. He also worked at the investment bank Donaldson, Lufkin & Jenrette in the 1990s. (Reporting By Lauren Tara LaCapra, editing by Dan Wilchins) Link this Share this Digg this Email Reprints

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