When seniormanagers at Nomura called a town hall last week aimed at taking their happiness to "another level", one wag in its investment banking division wondered whether the Japanese bank was inviting him to an illegal rave. Alas, there was no trace of illicit substances, hooded tops or glow-sticks. The bank was simply on a natural high after posting decent third-quarter results in its wholesale banking division and felt now was the time to put a "bigger spring in people's steps".
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