Nomura to acquire Lehman Bros. BPO

by CXOtoday Staff    Oct 03, 2008

Japan s biggest securities firm - Nomura Holdings, would pay several billion yen to acquire the Mumbai-based operations

Nomura Holdings is planning to acquire Lehman Brothers Holding’s Indian back-office operations, including its IT operations, Japan’s Nikkei business daily said on Friday.

The Nikkei reported that Nomura, Japan’s biggest securities firm, would pay several billion yen to acquire the Mumbai-based operations, which employs more than 2,000 employees.

Nomura has already accepted about 3,000 workers from Lehman Brothers’ Asia-Pacific units and some 2,500 employees from Europe and the Middle-East, the Nikkei newspaper said.

Lehman Brothers’ Indian back-office operations, based in the financial hub of Mumbai, handles trading settlement duties as well as IT research and development.

The Japanese broker bought Lehman Brothers’ operations in Europe and Asia after the once-mighty Wall Street titan was brought down by the financial crisis that has roiled global markets.

It could not buy the global back-office operations of Lehman Brothers because it was under the wing of the North American business, which is being bought by UK-based Barclays.