Guy Hands, the high-profile banker at Nomura International PLC, the British unit of Nomura Securities Co., will likely quit and launch his own fund by September, industry sources said Monday.
Hands also plans to take almost all of his 60-member team with him, the sources said.
Hands, 41, appears to have decided to leave Nomura after his bid to double the amount of funds he manages was rejected, the sources said.
According to the British media, Hands, who already manages 2 billion British pounds (350 billion yen) as the head of Nomura's London-based private equity branch, wanted Nomura to let him handle an additional 2 billion British pounds.
Hands began his career at a U.S. investment bank and joined Nomura 61/2 years ago. He has built a reputation for buying businesses with strong cash flows and securitizing their assets.
A series of successful deals guided by Hands, including those involving pub chains and bookmakers, have garnered Nomura 1.5 billion British pounds (260 billion yen) in total profits.
In 1997, Hands earned a salary of 40 million British pounds (7 billion yen), making him the highest-paid corporate employee in Britain.