Jasjit Bhattal, chief executive of Nomura Holding’s wholesale banking division, has retired after less than two years in the position.  Based in Hong Kong, Mr. Bhattal, was also deputy president of Nomura, and in charge of efforts to expand the wholesale banking unit, which has continued to struggle against international competitors. Mr. Bhattal was the first non-Japanese person to sit on Nomura’s executive board. He joined the bank in 2008 from Lehman Brothers after Nomura bought the European and Asian operations of Lehman after it collapsed. The sudden departure is a blow to Nomura’s attempts to expand in global financial markets. As part of an effort to streamline operations last year, Nomura announced $1.2 billion of cuts, mostly in Europe, where it currently has 4,500 employees. In the three months ended Sept. 30, Nomura posted a net loss of $591 million, its first quarterly loss in more than two years. Nomura’s chief operating officer, Takumi Shibata will manage Nomura’s wholesale banking division on an interim basis.  [Dealbook 1/10/12]