Nomura denies London layoffs

THE INVESTMENT bank, Nomura International, last night denied reports of planned heavy redundancies at its London offices. The speculation was sparked by Wednesday's announcement that Nomura's chief economist, Bronwyn Curtis, had resigned, and the disclosure yesterday that three of her staff had been made redundant.

A spokeswoman for Nomura International, which has 1,300 City employees, said: "There is no wholesale letting go of people, and there is nothing planned at the moment." But she added: "We never say never." The spokeswoman admitted that two economists in Ms Curtis's department - Michael Derks and James Mitchell - and a junior member of support staff had been made redundant. A total of 70 staff had been let go between September and December.