Two of the key figures in the integration of Nomura and Lehman Brothers in Europe have started new chapters in their careers, with Sadeq Sayeed, former chief executive of EMEA, taking up a new role as chairman at a hedge fund, and Rachid Bouzouba, former co-head of global equities, leaving the bank after weighing alternative positions.

Sayeed has joined hedge fund Metage Capital as non-executive chairman, according to the Financial Services Authority's list of authorised persons. Metage confirmed the appointment, and said in a statement: "His appointment marks the beginning of the next phase in the development of the company."