Nomura, the biggest investment bank of Japan, is set to emerge as the major European investment bank after its acquisition of Lehman Brothers’ London business in equities and investment banking. The deal has come as a blessing in disguise for 2,500 employees whose jobs now appear to be safe.

Nomura said that its long-held aspirations of becoming a big player in Europe could be fulfilled due to serious mistakes committed by its international competitors.

Nomura would place 2,500 Lehman employees at the bankrupt bank’s office at Canary Wharf in London. However the future of 2,000 employees working in asset management and other businesses is not yet resolved, though the PwC administrator revealed that he had received tentative offers for these businesses as well.

Nomura did not disclose the price it paid for the deal but claimed that it was nominal. Its advisor Sadeq Sayeed, in response to a question, mentioned that it intended to become ‘Big’. He said that Nomura had been trying to penetrate international markets with varying degree of success while looking for right opportunities outside Japan for some time.

Nomura had taken over the Asian operations of Lehman Brothers the previous day, for £121m ($225). Nomura beat Barclays in bidding for European equities in order to acquire investment banking business. Both have bought big chunk of Lehman’s assets since it bankruptcy.