The convertible bond market has been coming back to life, first in the US and now in Europe and Asia. As it does, some investment banks have been caught with their convertibles resources depleted by staff cuts. But not Nomura, which has had an infusion of new blood from Lehman Brothers and has been doing some roaring business.
Paul Dolan, the bank's global head of convertible bonds, joined Nomura with a team of 16 from ING in 2003. In 2007 he moved to Hong Kong, to drive further expansion into the Asia-Pacific region. Last year he was joined by the Asia equity-linked team from Lehman. Although Nomura had traditionally been strong in trading, sales and research, the former Lehman staff brought some important corporate relationships.
