Nomura fires almost 30 pct of its HK research team

Nomura International (Hong Kong) Ltd., the Hong Kong-based subsidiary of Japan’s largest broker Nomura Holdings Inc., on Wednesday fired almost 30 per cent of its research team as the broker tries to cut costs as the euro zone crisis, slowing mainland growth and faltering US economy hit the financial services sector worldwide.

Nomura fired 15 research analysts in its Hong Kong office, out of a total of about 50 research analysts in the team, according to sources, who declined to be named.

via Business feed http://www.scmp.com/business/banking-finance/article/1035008/nomura-fires-almost-30-pct-its-hk-research-team