Over the next two years, Nomura Holdings, the Japanese investment bank intends to hire over 40 private bankers in Asia and the Middle East. Its objective is to expand its base of rich customers and erepreneurs in these regions.
The bank plans to have about 135 relationship managers by 2025, so that its business can be multiplied. It is currently functioning with 91 private bankers based out of Dubai, Singapore and Hong Kong, serving rich clinets from Greater China, South-east Asia and the Middle East.
In addition to improving wealth management, the bank is looking to increase assets, from US$15 billion to US$35 billion, as part of its international wealth management division,by March 2025.
Having suffered financial issues during its global expansion activities, the bank now wishes to improve wealth management to increase revenue with less risk of vulnerability to market changes.
The bank offers high net-worth individuals a variety of investment products and services.
In January 2023, Nomura had let go of a few bankers from its offices in continental Europe. It had reduced headcount in its Paris, Madrid, Milan and Amsterdam teams. At the time, the bank had maintained that the year 2022 had witnessed a dip in global investment banking fee, and therefore, reducing workforce size in select areas was a much-needed exercise. Nomura Holdings had also axed 18 Asian banking jobs around the same time, most of which were investment positions focused on China.
