Nomura recruits 125 to fixed income team
Thursday 14th January 2010
Nomura Holdings Inc., Japan’s biggest investment bank, is set to recruit 125 investment bankers to its fixed-income teams in Asia outside Japan this year as part of a plan to increase revenue from the region by at least 30 per cent.
The Tokyo-based lender will expand operations in South Korea, Taiwan, China and India while also hiring in Singapore and Hong Kong, according to a Bloomberg interview with Jai Rajpal, Asia ex-Japan head of fixed-income.
“The focal point is how do we get closer to our clients, especially in Asia, which is a highly fragmented market,” Rajpal said in an interview in Singapore. “The only way to do that is by being local.”
Bond sales in Asia outside Japan practically doubled to hit a record USD 401.6 billion last year. Bloomberg data suggested corporate sales jumped 57 per cent in South Korea and Indian issuance rose 48 per cent in 2009.
Last year, Nomura was the top underwriter of Japanese bond sales for the first time since 2002, but was ranked 88th for Asian sales outside its home market, the data showed.
Nomura bought Lehman Brothers Holdings Inc.’s Asian and European businesses after the New York-based investment bank collapsed in September 2008, and reported net income of 27.7 billion yen ($300 million) in the three months ended Sept. 30 last year compared with a loss in the same period of 2008.
In the U.S., Nomura has said it plans to expand its workforce about 23 per cent to 1,600 by March.
blog comments powered by Disqus
(0) Comments | Report Abuse
Editorial Contact Details - Conor Shilling