Nomura’s Cornford Moves As The Bank Digests Cuts

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LONDON--Nomura International in London last week cut 14 FX positions, confirms a spokesperson. Michael Cornford, head of global FX, was among the staff members to leave the bank.

Sources say the 14 positions comprised around half of the bank's London forex team. Although, the bank's spokesperson declines to comment on this point.

Cornford joined Nomura in April, 1997, to head its FXoperation in London, as the bank geared up for the anticipated deregulation of the Japanese financial markets.

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