Japan's Nomura has agreed to buy Lehman Brothers' equities and investment banking business in Europe and the Middle East in its second swoop on the business of the bankrupt US bank in less than 24 hours.
Nomura, Japan's biggest brokerage, said it expects to retain 'a significant proportion' of the 2,500 staff employed in the businesses. It did not say how much it paid for the deal, but said it will not take on any trading assets or trading liabilities.
Lehman filed for bankruptcy protection last week. Britain's Barclays bought its core US broker-dealer business and Nomura bought its Asia-Pacific arm yesterday. The deals are expected to save most jobs in each region.
Nomura said it had now struck 'two transformational deals' in less than 24 hours.
Its immediate task is to get the Lehman businesses back operating under the Nomura name, it said.
'This transaction will significantly extend our European footprint and international reach, enabling us to realise our strategy of delivering Asia to the world,' Kenichi Watanabe, Nomura's CEO, said.
