Wall Street and Toyko to collide as Jasjit "Jesse" Bhattal is appointed to Nomura's board

Nomura, which is known for its overly cautious approach, first approached Lehman executives in late 2008 when Mr Sadeq Sayeed, head of its then European operations supported the purchase of Lehman's european businesses.

Although Sadeq has retired from today or until a new appointment can be found, Bhattal's

decision to remain in the company has lifted hopes of a integration of the two companies opposing cultures and staffs.

Jesse, who was head of the former Lehman's Asian business, will also become head of its non-retail operations in Japan and overseas.

The result will make him president of the group's new "wholesale" banking unit and make him the first non-Japanese on Nomura's executive management board.

Nomura, which have acquired both the EUropean and Asian businesses of Lehman's, will hope that its move to 'blend' its executive board with foreigners, would secure ex-Lehman's staff whilst also helping drive forward revenues, sluggish until now.

Mr Bhattal, who will be based in Hong Kong, is a clear sign of the bank's growing operations outside of Japan, which were hugely expanded by the Lehman's acquisition.

He will lead a division of investment bankers, derivative traders, equities traders and fixed income traders.

The appointment now reaffirms the Japanese bank's determination to transform itself into a global investment bank.

Non-Japanese now comprise 35 per cent of group senior managing directors in wholesale and corporate divisions at Nomura and 8 per cent of executive managing directors and senior managing directors.