Nomura Holdings Inc. CEO Kenichi Watanabe and his closest associate have resigned due to an internal scandal at Nomura related to insider trading.
Koji Nagai, who deals with financial intermediation, will succeed him from August XNUMXst. General Manager Takumi Shibata will replace US Unit Director Atsushi Yoshikawa.
According to Tokyo analyst Kouichi Niwa, Watanabe's resignation will give Nomura the opportunity to "reinvent herself". Nomura therefore needs to "regain the confidence of the markets and increase its earning power." It won't be that easy.
