Now Nomura's global head of rates and FX trading resigned

Changes are afoot at Nomura. After various exits in the London macro business, we understand that Hoe Lon Leng, the global head of FX flow and rate trading has resigned as of today. So too has Clement Florentin, head of equity structuring for EMEA and Asia ex-Japan, and head of QIS structuring for APAC. 

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Both men were working for Nomura in Singapore. Not any more. It's thought they're both going to rival banks.

Nomura didn't immediately respond to a request to comment.

Long Leng was promoted as co-head of the business for Asia ex-Japan last June. His colleague Andy Law remains. There is speculation that Leng might join a Chinese bank after he toured China and wrote about fine life is there. 

Florentin joined Nomura from Credit Suisse in 2023.

Nomura's macro team has lost many people in the past year, including Kilian Frensch, Kunal Parekh, Gian Ameri William Johnson, Quinn Borley and Ruchelle Beltia. Frensch recently landed at UBS, which needs to restock its desk after its own exits, and there are fears that others will join him. 

The departures of Long Leng and Florentin before Chinese New Year are awkward timing for the Japanese bank.

While US and European banks have announced and are announcing bonuses, Nomura doesn't pay until April. There may more exits after that.

Nomura declined to comment.

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