Nomura bolsters Fixed Income team and continues to grow footprint in the Middle East and Africa

December 18, 2010 11:35 am

Mr Shayesteh will head Nomura’s Middle East and Africa Sales for Financial Institutions and Sovereign Wealth Funds and Mr Cummings will spearhead the Structured Solutions Group for the region.

Philip Lynch, Nomura’s CEO, Asia ex-Japan and Middle East, said: “We see significant opportunities to help our clients grasp the increasing business flows between the Middle East and beyond. These hires further strengthen our capability to service their diverse fixed income needs and demonstrate our long-term commitment to the region.”

Mohamed Idriss, Nomura’s head of Global Markets Sales, Middle East and Africa, said: “The new team members will help expand our global markets reach as well as adding a new dynamic to Nomura’s client offering. Fixed income markets are becoming increasingly important and Nomura is determined to remain at the forefront of the industry. These new hires represent our commitment to ensuring our clients have unparalleled access to the most important asset classes.”

Ramin Shayesteh, who joins as Managing Director, was previously at Barclays Capital where he was Head of Middle East and Africa sales and spent the last 12 years establishing significant client relationships and product offerings. Mr Shayesteh will be based in London.

Kevin Cummings, who joins as Executive Director, will manage the Structured Solutions distribution business, and co-ordination of the Sovereign Wealth Fund distribution business into the Middle East and Africa. Mr Cummings has over eight years of experience in the Middle East, having spent five years with Barclays Capital in Dubai and London, where he was responsible for the Dubai-based cross product distribution business. Mr Cummings will be based in Dubai.

Mr Shayesteh and Mr Cummings will be supported by Mr Al Damiri and Mr Kirdar who will both be based in Dubai.

Nomura is a leading financial services group with worldwide reach. Nomura has had a presence in the region since 1974 and has offices in Riyadh, Dubai, Doha and Bahrain.