The collapse of Lehman Brothers may have triggered the most severe episode in the financial crisis, but two firms hope to grow their business by picking over its bones. If Barclays thinks Lehman's US business can propel it into the upper echelons of US broker dealers, Nomura believes a similar alchemy can be worked with its Europe, Middle East and Africa (EMEA), and Asian arms.
Sadeq Sayeed, CEO of Nomura's EMEA business, is unequivocal about the Japanese bank's ambitions. "We are the number one broker dealer in Japan. We wanted to be something similar in the international markets but never succeeded because it was too expensive. Lehman Brothers gives us the opportunity to fulfil that ambition," he says.
