The former Lehman Brothers banker who was instrumental in the takeover by Nomura and who has since risen to become the Japanese bank’s most senior foreign executive, is stepping down from the helm of the wholesale banking division that he has led since April last year.

Jasjit "Jesse" Bhattal joined Lehman Brothers in 1993 and led its investment banking business in Asia before acting as chief executive of its overall Asia-Pacific business from July 2000 until it became part of Nomura in late 2008.