Prime Brokerage Chief Out At Nomura

Dec 17 2010 | 12:47am ET

Just a week ago, Tim Wannenmacher laid out his plans to make Nomura Holdings the dominant prime broker in Japan. Today, he's out of a job.

Wannenmacher has left the bank, where he has served as global head of prime services, Financial News reports. He has worked at Nomura for just over two years, joining the firm along with the rest of Lehman Brothers' European and Asian operations.

It is unclear what led to Wannenmacher's abrupt departure. Just last week, he told Asian Investor of Nomura's plan to become the biggest prime broker for Japanese strategies.

Wannenmacher has been the sole head of Nomura's prime brokerage since May, when he and fellow Lehman executive Gunner Burkhart were named co-heads of the group. Burkhart has since moved on to become global head of senior relationship management.

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