Another trader left Nomura's leaky rates team before Christmas
Spare a thought for Hemish Shah. The head of EMEA flow rates at Nomura, is under pressure to increase revenues this year after a weak end to 2025. But people in his team keep leaving.
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The latest exit, which occurred quietly in the run-up to Christmas, was that of Kunal Parekh, the former head of swaps trading at the Japanese bank. Parekh's last day was December 17th according to the FCA Register. Neither he nor Nomura are commenting. It's understood that Parekh resigned.
His is the latest in a spate of exits from the team. Kilian Frensch, Shah's good friend and Nomura's former head of European rates swap trading, left last October and is joining UBS. William Johnson, a European rates trader, and Gian Ameri, a rising star in the rates business, also left in November.
The danger now is that more traders might leave Nomura once Frensch lands at UBS. Frensch, who previously worked for Deutsche Bank, is widely held to be a pleasant and popular guy.
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