IN ADDITION |
|
The news comes down that your firm is getting out of European cash equities and equity capital markets, ending the jobs of the research analysts that used to cover many of the same corporate clients your coverage teams pitch for business.
That is a loss of regular contact with those CFOs and the CEOs at earnings calls and strategy reviews; an end to introductions arranged for them to new institutional investors from your firm’s large home market; and, of course, no more equity capital market revenue to pitch for. You won’t be working on their share placements or spin-offs anymore.
What do you do?
 |
| Charles Pitts-Tucker, Nomura |
Charles Pitts-Tucker, the wonderfully understated head of investment banking EMEA at Nomura, sets down his chop sticks and looks intently at Euromoney across the two bento boxes between us. He confides: “We had to have quite a re-think.”
The firm did indeed. Its biggest success stories, in the UK, Spain and Italy, were all set back. “It meant we couldn’t do corporate broking anymore, for example,” Pitts-Tucker recalls.
