Tim Wannenmacher has stepped down as global head of prime services at Nomura, according to several news reports.
Chris Antonelli, head of prime services in Japan, reportedly will take over Wannenmachers role.
Wannanmacher joined Nomura from Lehman Brothers when it bought Lehmans Asian and European business 2 years ago. Nomura expected the Lehman purchase to help build its business, but it ended up costing the firm billions at the outset, according to an earlier Global Custodian article.