The co-head of the telecoms research team and the head of the autos research team are among a number of departures from Nomura's ranks in the past week, following the payment of annual bonuses at the Japanese bank.

Harald Hendrikse, head of the autos team, and Fred Boulan, co-head of the telecoms team, have both resigned in the past week, according to three people familiar with the moves. Boulan and Hendrikse did not return messages seeking comment.