Nomura in New Insider Trading Scandal
Nomura is facing a new insider trading scandal. Nomura Holdings admitted to sweeping breaches of safeguards on confidential client information and will slash top executives’ pay and shut an equity sales desk as Japan’s largest brokerage seeks to resolve a damaging insider trading probe.
Nomura said CEO Kenichi Watanabe’s pay would be halved for six months to take responsibility for the brokerage’s third insider trading scandal since he took charge four years ago. In the year to end-March, 59-year-old Watanabe was paid US $1.6 million, including options.
Nomura has 27,000 employees and is Japans largest asset manager with US$ one trillion from private clients alone.
Nomura reported profits of $141 million for the 12 months fiscal year ending March 31st, 2012. This was a better result than in 2009 when the company lost $7.1 Billion. Nomura has $29 billion in shareholders equity. Nomura’s shares pay a current dividend yield of 2%.
You may have an interest in also reading…
Portobello Capital: Driving Growth and Industry Leadership in Iberian Private Equity
Portobello Capital has cemented its position as the leading mid-market private equity firm in Spain, with over €2bn deployed across
Deem Finance: Driving Financial Inclusion and Digital Transformation in the UAE
Deem Finance has established itself as one of the UAE’s most progressive non-bank financial institutions — redefining inclusion and innovation
Continued Improvement and Resilience – The Path to Banking Success and a Strong Reputation
Dedication to strong governance and a philosophy of community support have stood Afghanistan International Bank (AIB) in good stead –
