(Bloomberg) -- One of Nomura Holdings Inc.’s most senior Japanese government bond traders has left his role, according to people familiar with the matter.
Takushi Sawada, who worked with a team of more than five traders in Tokyo, stepped down from his position in recent months, said the people, asking not to be identified as the details aren’t public. It wasn’t clear what led to his departure and what’s his current employment status with the firm, the people added.
A Nomura spokesperson declined to comment. Sawada, a veteran yen rates trader for more than a decade at the nation’s biggest brokerage, couldn’t be reached for comment.
Trading in fixed income securities has surged as central banks from Japan to the US diverge on monetary policy paths, triggering volatility. The industry is also anticipating more activity after the Bank of Japan scrapped a policy of controlling bond yields earlier this year.
As a major player in the almost $8 trillion Japanese government bond market, Nomura has significant clout over what is an exclusive and tightly-knit group of domestic bond traders.
--With assistance from Donal Griffin and Nao Sano.
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