Nomura boss takes pay cut after employee 'tried to kill clients'

Published On Dec 3, 2024, 9:26 AM

Kentaro Okuda, the CEO of Japanese bank Nomura, has voluntarily taken a pay cut of 30% for three months following a serious incident involving a former employee, who was charged with robbery, attempted murder, and arson after allegedly stealing from clients. Nomura has also implemented stricter security measures to restore client trust. The incident has raised concerns about client safety and trust in the bank's management practices.

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Given the reputational damage from this incident and the pay cuts taken by executives, Nomura may face short-term volatility in its stock price as investor confidence is shaken. However, the bank's proactive steps to address the situation and enhance client security could help mitigate long-term damage.

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