Nomura CEO receives £22m pay off, news report claims

18 August 2010

Sadeq Sayeed, Nomura’s chief executive officer (CEO) for Europe, has received a pay off of £22 million, a news report has claimed.

According to the Times, the figure is thought to be one of the largest severance payments made in the UK.

The banking chief, who was head of its activities in Europe and the Middle East (EMEA), announced his intention to resign from the position earlier in the year.

He was in charge of Nomura’s raid on Lehman Brothers when the bank collapsed during September of 2008.

The bank failed to acquire the US unit of the institution but did succeed in purchasing the European division for $2.

Takumi Shibata, deputy president and chief operating officer of Nomura Holdings, said when announcing Mr Sayeed’s retirement in March of this year: “As chief executive in EMEA, Sadeq successfully integrated the two organisations to create a powerful platform in the region

“We are very grateful for all that Sadeq has achieved in the last 10 years, and especially in the past 18 months.”

The departing post-holder has worked with Nomura on its board as an advisor since 2000.

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