Another Financial Terrorist Resigns. CEO of Japanese investment bank Nomura quits.Submitted by go213mph on Thu, 07/26/2012 - 21:36
Kenichi Watanabe resigns, along with other senior executives, in wake of insider trading scandal.
The chief executive of Japanese investment bank Nomura has quit, along with several key lieutenants, in the wake of an insider trading scandal.
Kenichi Watanabe will be replaced by company veteran Koji Nagai, as Japan's top investment bank warned additional insider trading cases could come to light. Watanabe's top lieutenant, Takumi Shibata, also quit, along with a number of other senior executives.
Watanabe is the second global bank boss to resign this month – Barclays chief Bob Diamond stood down over the Libor rate-rigging scandal on 3 July – as the banking industry finds itself under increasing political and regulatory pressure.