Lorenz Altenburg’s position on Nomura’s syndicate desk is understood to have been put at risk of redundancy amid cuts to the Japanese bank’s London staff.

Altenburg has been head of corporate and emerging market syndicate at Nomura, but is a veteran of the covered bond market from over a decade’s involvement, notably during his time at Société Générale, where he worked from 2000 to 2010. Recently at Nomura he has meanwhile been involved in working on an anticipated increase in Polish and Turkish covered bond activity. He has also worked at Crédit Agricole.

Chris Agathangelou continues to handle covered bonds for Nomura. The syndicate desk, however, recently lost Shanx Tandon, who has joined Credit Suisse.

Nomura has been cutting jobs in London as part of efforts to reduce costs. Altenburg’s erstwhile boss, Benedict Nielsen, who was head of EMEA DCM and syndicate at Nomura, meanwhile suffered a similar fate in August.