Nomura offers ‘Lehman-style’ contracts

Nomura Securities, which is integrating the Lehman Brothers operations it acquired last year, is adopting a western-style employment system for Japanese staff, in a radical shift from its tradition of complete job security.

Nomura’s management has told staff in Japan they can sign up for a “Lehman-style” employment contract, with pay more closely tied to performance, according to people familiar with the situation.