The future of Benoit Savoret, who was drafted in as Nomura’s joint global head of equities less than two years ago, was unclear after the Japanese bank revealed plans to recreate a global markets unit spanning fixed income and equities.

The bank today said that Steven Ashley, global head of fixed income, has been named head of global markets, while Naoki Matsuba, who had been joint head of equities with Savoret, becomes co-head of global markets, effective immediately.