Nomura CEO aims to finally crack US with shift to M A advisory
Date
2/10/2016 11:10:50 PM
(MENAFN- Asia Times) Nomura CEO Koji Nagai at his Tokyo office; Reuters photo
Japan’s biggest investment bank will move resources into areas such as mergers-and-acquisition (M&A) advisory Koji Nagai said in an interview. The approach would differ from his predecessors whose emphasis on securities in the U.S. and Europe ended in heavy losses.
“We’re going to build a proper client base in America” Nagai told Reuters on Tuesday. “If we have that platform we won’t need to rely on high-risk market-focused business. We’ll completely change our approach.”
Nomura earns around half of revenue from its domestic retail division where it mainly books commission from trading stocks for a rapidly aging customer base. Government efforts to end two decades of deflation depend on more people shifting savings to more productive assets such as stocks via banks like Nomura.
But such efforts – typified by the Bank of Japan (BOJ) lowering its policy interest rate below zero late last month – may not be sustainable over the long term said Nagai likely strengthening Nomura’s resolve to seek growth overseas. Read more
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