Nomura CEO Resigns

    Newly appointed Chief Executive of Japan's securities firm Nomura Holdings Group Koji Nagai (C) is surrounded by press after a press conference at the company's headquarters in Tokyo on July 26, 2012. The head of Japan's biggest securities firm resigned on July 26 in the wake of an embarrassing insider trading scandal, part of a widening national probe into the widespread practice. AFP PHOTO / Yoshikazu TSUNO        (Photo credit should read YOSHIKAZU TSUNO/AFP/GettyImages)

    Yoshikazu Tsuno, AFP / Getty Images

    The CEO of Japan's top investment bank, Nomura Holdings, has stepped down from his position in light of an insider trading scandal within the bank. Kenichi Watanabe's resignation along with that of his top lieutenant Takumi Shibata were confirmed Thursday morning. The two men had been at the helm the takeover of Asian and European assets of Lehman Brothers when the American firm went down, and their scandalous departure poses questions about the global economic plan they'd hedged. Nomura is expected to hold a news conference updating the public on its management structure this morning. The company had been conducting an internal investigation into acts of insider trading dating back to 2010. Nomura is expected to name securities head Koji Nagai as Watanabe's replacement. 

    Read it at REUTERS