Despite the fact that Nomura has been cutting jobs in its European operations, Kate Massey, a professional within the foreign exchange (forex) space, has joined the Japanese firm in its electronic FX distribution team.
Massey, who is based in London, will be working in Nomura’s e-FX distribution team for Europe, the Middle East and Africa (EMEA), and the Americas, according to a report from FX Week this Thursday.
In her new role, Massey will be in charge of developing and promoting the expansion of Nomura’s e-FX distribution platform in these regions. She will report to Ian Daniels, who is the head of e-FX distribution, the news outlet said.
Kate Massey joins Nomura from EBS
Before she was at Nomura, Massey was regional liquidity manager for EBS BrokerTec, an electronic trading platforms and solutions business in FX and fixed income. She initially joined the company back in January of 2011, joining in non-deliverable forward sales.
She then went on to work in liquidity management for the EMEA region for EBS Direct in April of 2015. Two months later, she was then appointed to the position of regional head of eFX Distribution, EBS DIRECT, her LinkedIn states.
Massey first entered into the forex industry in 2006 when she started working for HiFX, which is now XE.com, a currency exchange company. At the time, HiFX was a provider of international money transfers and global payment solutions.
The appointment of Massey follows a difficult time for employees in Nomura’s European operations. As FortuneZ reported back in April, Nomura revealed that it was going lay off around 100 employees in its European business.
The majority of job cuts will be for rates and credit traders in the firm’s London-based Europe, Middle East, and Africa (EMEA) division. Furthermore, in a presentation, the Co-Chief Operating Officer Kentaro Okuda said that the broker plans to cut costs in its so-called flow businesses in the EMEA region by 50 percent. In addition, under the cost reduction plan, the company also intends to exit high-yield bond trading in both the EMEA and the Americas.
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