tagged w/ Nomura
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Nomura Holdings Inc., Japan's biggest securities firm, agreed to buy Lehman Brothers Holdings Inc.'s investment banking and equities unit in Europe, saying it would keep on most of the firm's 2,500 employees in London.
The Tokyo-based bank will pay a ``nominal'' amount for Lehman's European operations, Nomura Special Adviser Sadeq Sayeed told reporters on a conference call today. He declined to be more specific. The purchase follows Nomura's $225 million takeover yesterday of Lehman's Asian-Pacific unit.
The turmoil in the financial markets over the past 11 days is giving Asian banks an opportunity to seize global market share. Mitsubishi UFJ Financial Group Inc., Japan's largest bank, plans to buy 20 percent of Morgan Stanley for $8.4 billion. Nomura President Kenichi Watanabe is now restarting an overseas push that was rolled back by his predecessor in 2007, as losses on U.S. mortgage investments mounted.
Read full story at link.Nomura Holdings Inc., Japan's biggest securities firm, agreed to buy Lehman... more
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