(Bloomberg) -- Nomura Holdings Inc., the Japanese brokerage struggling with a trading scandal, appointed a new chief executive officer for its European operations just eight months after announcing that another senior official would take that position.
John Tierney is replacing Jonathan Lewis as CEO of Nomura Europe Holdings Plc and Nomura International Plc, the bank’s key European subsidiaries, according to a statement Tuesday. The Tokyo-based lender previously announced in March that senior executive Toru Otsuka would assume Lewis’s role, subject to regulatory approval.
Otsuka is a senior executive at Nomura, Japan’s biggest brokerage, who previously helped oversee global regulatory affairs. He has been given a new role responsible for global markets surveillance planning and strategy in the wake of the trading scandal.
Nomura has come under pressure to improve its operations since Japanese regulators found that one of its traders had manipulated the market for government bonds. The firm’s reputation took a further hit in recent weeks following reports that a former employee was arrested on suspicion of robbery and attempted murder of elderly clients.
A spokesperson for Nomura declined to comment beyond the company’s statement. Spokespeople for the Prudential Regulation Authority and Financial Conduct Authority, which oversee the bank in the UK, also didn’t comment.
Tierney is a 26-year Nomura veteran, according to Tuesday’s statement. He is currently chief operating officer at Nomura Europe, which had $10.7 billion of assets at the end of March, company filings show.
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