Nomura Holdings is shuffling the top leaders within its currencies and emerging markets trading business following the departure of the unit’s co-head Nagaraj Pangal, the second boss to exit the division in just nine months.
Pangal had been helping lead the business since 2023 alongside Kevin Connors, who left in September. David Leigh, who recently joined the Japanese bank from Deutsche Bank to replace Connors, will continue to head the business, according to a memo to staff.
The broader FX and EM division has had a strong start to the year, with revenues climbing 60% from the same period in 2024, according to a separate memo. Still, the business has been suffering from a series of high-profile exits, including the departure of Connors, who Nomura had brought on in 2021 to help rebuild the business.
