Nomura to buy Lehman Brothers’ BPO in India
Read the Latest: Nomura acquires Lehman Brothers’ units in Powai, Mumbai
Nomura Holdings, the Japanese brokerage group which recently bought Lehman Brothers’ Asia-Pacific, European and Middle-East operations, is also reportedly finalizing the deal to buy Lehman Brothers’ back-office (BPO) unit in India.
According to Japanese business daily, The Nikkei :
“Nomura Holdings Inc. has reached an agreement to acquire for several billion yen Lehman Brothers Holdings Inc.’s Indian operations that have handled the bankrupt US firm’s global back-office duties and information technology development.”
According to AFP :
“The back-office operations, based in the financial hub of Mumbai, handle trading settlement duties as well as information technology (IT) research and development.
Nomura reportedly decided to make the extra investment as the Indian base has talented IT workers and has functioned as the heart of Lehman’s cutting-edge systems. Nomura declined to comment.”
Media reports also say that Nomura would retain the workforce of more than 2000 employees in the back-office of Lehman in India.
Source:
» Nomura to take on 2,000 Lehman staff in India: reports (AFP)
» Nomura said to buy Lehman global back-office ops (Reuters)
» Nomura faces big risks, rewards in Lehman deal (Reuters)
» Nomura to buy Lehman’s India unit, retain staff (Financial Express)
» Nomura to set up $1 bn pool to retain Lehman staff
Related News:
» Nomura to buy Lehman Brothers Asia units
» Fate of 2500 employees in Lehman Brothers (India) uncertain
Related Reading :
√ The Resilience of Corporate Japan: New Competitive Strategies and Personnel Practices (Human Resource Management series)
√ The House of Nomura: The Inside Story of the Legendary Japanese Financial Dynasty
√ Japanese Companies: Theories and Realities (Japanese Society)
