Nomura Holdings, Japan's largest securities company, has given its highest salary ever to a foreign executive. According to regulatory filings submitted on Wednesday, Christopher Willcox, the head of Nomura's trading and investment banking business, received a salary of $12 million in the last fiscal year ending March, which is more than three times the salary of Nomura's CEO Kentaro Okuda, whose salary increased 31% to 506 million yen (about $3.2 million), the highest salary ever given to a Nomura CEO.
After suffering a series of setbacks in recent years, including losses related to the bankruptcy of Archegos, Nomura raised executive salary to the highest level in at least a decade for its last fiscal year.
As fixed-income trading soared and the Japanese market recovered, Nomura achieved its first annual profit growth since Kentaro Okuda took office last fiscal year.