Nomura Holdings' (NMR) Nomura Securities unit said Tuesday that its senior executives will take a voluntary pay cut of up to 30% over three months as part of remedial measures after a former employee was arrested and charged for multiple crimes, including arson and robbery.
According to the company, the former employee reported to the Hiroshima branch office manager in August that he was suspected by the police of arson and stealing money when he visited a client's home in July. The former employee was arrested in October and charged in November, Nomura said.
The voluntary pay cuts will be taken by the company's president, five representative directors, and leaders of Nomura's business management and wealth management groups, according to a statement.
Nomura said it will also implement a string of response measures to "deter individual employee misconduct," such as improving the recruitment process, monitoring of employees' business activities, and strengthening supervision of home visits to clients.
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