The announcement that veteran dealmaker William Vereker is to step down from his role at Nomura has cast fresh doubt over the future of its investment banking unit, with an insider confirming that it will offer a more narrowly targeted investment banking service in future.

Vereker, who is stepping down from the role of co-head of investment banking to become vice-chairman of investment banking, will concentrate on existing transactions rather than winning new business in his new role as vice chairman, a spokesman at Nomura confirmed this morning.