Nomura reclaims Lehman's London equities top spot

LONDON (Reuters) - Japan's Nomura says it has taken the top spot for cash equity trading in London for the first time since its takeover of the European business of Lehman Brothers, hitting the bank's year-end target early.

Lehman was the top equities trader on the London Stock Exchange before its collapse last September. Nomura wanted to reclaim the prestigious mantle by the end of 2009.

A Nomura spokesperson said the house topped the LSE ranking in July with a market share of 7.5 percent. The LSE declined to comment.

Nomura ranked third in June with a 6.7 percent share, up from eighth in May, behind Credit Suisse and Bank of America Merrill Lynch.

Lehman Brothers' market share was 17 percent in early 2008, according to Thomson Reuters data.

Nomura acquired the European, Middle Eastern and Asian units of Lehman Brothers in October. It re-launched the equity trading business in mid-January.

(Reporting by Daisy Ku and Steve Slater; Editing by David Cowell)