The head of Japan's largest investment bank has apologized and agreed to a temporary pay cut after an ex-employee was charged with trying to kill clients. The Nomura employee, who gave asset management advice to individuals and corporations, allegedly robbed the clients before setting fire to their home during a visit on July 28. He reportedly told a bank employee on Aug. 2 that he was a suspect in the arson. He was fired two days later, arrested Oct. 30, and has since been charged with robbery, arson, and attempted murder, per the BBC.
"We would like to deeply apologize to the victims, as well as many other people involved for the great inconvenience and concerns caused," CEO Kentaro Okuda said at a Tuesday press conference, where he bowed alongside other executives, per the Guardian. "We are truly sorry." Okuda, who vowed to return 20% of his pay for two months at the end of October after an employee was found to have manipulated government bond futures, this time agreed to a voluntary 30% pay cut over the next three months. Nine other directors and execs at the bank agreed to return 20% to 30% of their pay over the same period, reports the BBC.
Nomura said managers faced "strict disciplinary action" as a result of the employee's actions. "An incident like this must never happen at a financial institution entrusted with looking after its clients' assets," it added Tuesday. It said managers would now and "for the foreseeable future" attend employees' calls with clients and accompany them on visits to clients' homes, per the Guardian. Employees will also be monitored through company phones and dashboard cameras, as well as undergo an annual investigation into "potential wrongdoing," the bank said, per the BBC. (More Japan stories.)
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