Reuters: Regulatory News: Nomura removes institutional sales head amid insider probe

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Nomura removes institutional sales head amid insider probe Jun 1st 2012, 10:24 TOKYO, June 1 | Fri Jun 1, 2012 6:24am EDT TOKYO, June 1 (Reuters) - Nomura Holdings said it has removed the head of institutional sales at its core securities unit amid an escalating probe into the Japanese broker's role in providing inside information to its clients. Kenichi Ishitomi, the current head of institutional sales, is being removed so he can focus on the investigation being carried out by the Securities and Exchange Surveillance Commission, a source with knowledge of the matter said. Nomura said Naoki Matsuba, senior managing director of equity, would double as head of the institutional sales division.

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