In brief
In response to a former employee's horrifying actions, Nomura CEO Kentaro Okuda will cut his pay by 30%, while other executives follow suit with cuts of 20%-30% as the bank implements new safety measures.
In a surprising move, Japanese bank Nomura's CEO Kentaro Okuda is voluntarily slashing his pay after a former employee was charged with theft, attempted murder, and arson against clients. The incident occurred on July 28, when the ex-employee allegedly robbed clients and then set fire to their home. Following the shocking news, which led to the worker's arrest in October, Nomura swiftly dismissed him and offered apologies to impacted clients.Expressing deep concern, the bank emphasized, “We take this matter very seriously,” outlining plans for stricter protocols to ensure client safety, including mandatory supervision for client visits and improved monitoring of employee conduct. The bank has also required employees to take annual blocks of leave to detect any suspicious behavior. Nomura operates widely in Japan and internationally, focusing on wealth and investment management, global markets, and banking services.
