Nomura is understandably cock-a-hoop at having lifted one of the top experts on natural resources from Goldman Sachs. The timing of the hiring of Jan Laubjerg is especially significant. He was on the team at Goldman working for BHP Billiton.

Last week another miner, Rio Tinto, walked away from a $19.5 billion tie-up with China’s state-owned Chinalco, which is advised by Nomura, in favour of a deal with BHP. Nomura was behind the biggest dawn raid to date in February last year, snapping up 14 per cent of Rio, and the Chinese are still watching events closely.

Meanwhile, Laubjerg’s new employer is likely to do well out of the Asian boom in oil and mining, and he is an expert on oil and gas.

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