Nomura lost one of its most senior London macro salespeople. Help is on its way

17 June 2026

2 minute read

People are leaving Morgan Stanley's macro team. To a lesser extent, they are also leaving Nomura's. Nomura recently paid its bonuses; unhappy people there are free to move on.

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In London, the latest to do so is Michael Hall, a man who had spent his entire career at Nomura. Hall had worked for the Japanese bank since 2006 and had tried credit structuring, portfolio management, rates trading and rates sales. Hall was latterly an executive director in rates sales. Multiple sources say he resigned yesterday. Hall didn't respond to a request to comment and Nomura declined to comment.

Hall is the latest in a string of a least seven post-bonus exits from Nomura's macro trading team globally. Bevan Harris, an AUD trader and executive director on the London rates desk also resigned last week after 13 years. Christopher Killoran another AUD rates trader in Sydney quit around the same time. The AUD team in particular is thought to be understaffed as a result.

Nomura is already working on hiring replacements. In Singapore, ANZ people keep arriving. In London, we understand that various new salespeople will join Nomura very soon, including Amarjit Matharu, a Morgan Stanley executive director who joined MS in 2024 and previously spent 15 years at HSBC.

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