Nomura’s head of equity sales for Europe, the Middle East and Africa has left the bank, following the head of cash equities sales out of the door, as the bank pushes ahead with the structural overhaul of its equities business.

Mark Rutherford, a former Lehman Brothers salesman who joined Nomura in 2008 when it acquired the European operations of the collapsed US bank, has left, according to two sources familiar with the situation. A colleague confirmed the departure. He is still registered as working at the firm on the Financial Services Authority's register of authorised persons.