Takushi Sawada, one of the senior Japanese government bond traders at Nomura Holdings Inc., has left his position, according to sources familiar with the situation. Sawada, who led a team of over five traders in Tokyo, stepped down in recent months. The reasons for his departure remain unclear, and his current status with the firm has not been disclosed, as those familiar with the matter requested anonymity due to the private nature of the information.
A spokesperson for Nomura declined to comment on the situation. Sawada, a seasoned yen rates trader with more than a decade of experience at Japan’s largest brokerage, was unavailable for further remarks.
The fixed income market has seen a surge in trading activity as central banks in Japan and the US diverge in their monetary policies, leading to increased volatility. The financial sector is also bracing for more transactions following the Bank of Japan’s decision to abandon its yield control policy earlier this year.
As a prominent player in the nearly $8 trillion Japanese government bond market, Nomura wields significant influence within the tightly-knit community of domestic bond traders.
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