Financial Biz Review: MetLife’s ROADBLOCK, Nomura Changes PRIORITIES

Another impediment is in the way of MetLife, Inc.’s (NYSE:MET) intentions to divest its banking division to the General Electric Company (NYSE:GE), as regulators are still questioning GE’s plans for the business. On Tuesday the FDIC met again to discuss the case, but no action was taken. The transaction originated in December, and was to have been finalized by now.

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Nomura Holdings, Inc.’s (NYSE:NMR) Americas equity head Ciaran O’Kelly is exiting the firm, according to a source, as Nomura seems to be sharply shrinking its equities division. Priorities have apparently changed since O’Kelly was hired back in 2009 to conduct the expansion of the unit with “a mandate to spend a lot of money.”

Shares of MGIC Investment Corporation (NYSE:MTG) fall, on word that the firm intends to defer an interest payment on $389.5 million of convertible debt until 2022. The move is allowed and frees cash, as MGIC continues to resolve litigation, and deal with losses, and regulatory action. The last time the firm deferred a payment was in 2010.

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