Technology & Media Editor

Japanese investment bank Nomura suffered a twin blow this morning.

Kenichi Watanabe, Nomura's chief executive since 2008, has resigned amid the fallout of an insider trading scandal. The news came as the bank published first-quarter results that revealed a $110m pre-tax loss in its wholesale banking unit - which includes investment banking.

The Japanese bank's CEO and a driving force behind its international investment banking ambitions resigns, while wholesale banking slumps to a pre-tax loss of $110m for the first quarter

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Twin blow for Nomura's investment bank

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