It's said that financial markets are a "zero sum" game - for every winner there's a loser.  This adage recently was played out by Nomura Holdings, which made deep cuts to its European prime brokerage team as it refocuses its efforts on the U.S. and Asia.  [One continent's loss is another continent's gain.]  At least 5 top members of Nomura's European prime brokerage team have left the firm, part of a wider series of 25 to 30 redundancies across Nomura's European equities business.  The cuts come as Nomura reduces its cash prime brokerage business in Europe, where it has struggled to compete, and fall particularly hard on sales and capital introductions staff, Financial News reports.

For further details, go to:   [FINalternatives, 4/1/11, "Nomura Prime .."]