Japan’s Nomura Holdings to acquire Lehman Brothers’ Indian units

October 3rd, 2008 - 1:07 pm ICT by IANS  

Lehman Brothers Tokyo, Oct 3 (DPA) Japanese securities house Nomura Holdings Inc has reached a basic agreement to purchase Indian units of failed US investment bank Lehman Brothers Holdings Inc, Japan’s Nikkei business daily said Friday. The Nikkei reported that Nomura, Japan’s biggest securities firm, would take over the information technology development and back-office operations of Lehman Brothers with more than 2,000 employees in India.

The Japanese firm has already accepted about 3,000 workers from Lehman Brothers’ Asia-Pacific units and some 2,500 employees from Europe and the Middle-East to join Nomura, the newspaper said.

Lehman Brothers’ Indian operations included tasks such as procedural work entailed by securities transactions besides IT development.

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