Nomura claws Bhattal back to address staff overhang
No one likes an overhang on their stock. But for the last two years, Nomura has had an overhang on a large chunk of the investment banking workforce that it took on in Europe and Asia from Lehman Brothers back in 2008. Keen to avoid defections at the time, the Japanese bank guaranteed bonus payments for two years, an agreement that expires with the bonus round currently under way.
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