Tarun Jotwani, who was named head of global markets at Nomura in March last year in changes instigated by ex-wholesale banking division chief Jesse Bhattal, has today followed his former boss out of the door.

Jotwani had been made redundant, according to a source close to the Japanese bank. The source said the bank was restructuring its global markets division, with equities and fixed income to be managed as to separate businesses in future, undoing changes made less than a year ago.