A report announced that Nomura Holdings Inc. would hire dozens of private bankers working in Hong Kong and Singapore to further its Asia wealth drive. The plan was referred to as the company's way of extending its wealth management services across China and into other countries in Asia.
Nomura Holdings Inc. would implement aggressive business plans for China by hiring dozens of private bankers from Hong Kong and Singapore, reported Bloomberg. The massive hiring was said to aid the company in growing its assets to 50 billion USD by March 2026.
According to a senior managing director in charge of Nomura Holdings Inc. business dealings in Asia Yuji Hibino, the company wants to double the number of its relationship managers. He revealed that they wish to reach 100 employees in the next three years which was only at 57 since December of 2019.
Hibino said that Nomura sees Asia as the biggest market potential for the future growth of its business other than Japan. He said that the company wishes to explore more wealth management opportunities away from Japan and found that this could be attained sooner if the company hires more manpower in the next three years.
The report claimed that in 2019, Nomura expanded to Singapore where Hibino served as the senior managing director of the bank's Japan wealth business. He claimed that his experience could boost the presence of Nomura in global markets and investment banking divisions. He also revealed that Nomura is currently targeting wealthy clients across Asia.
According to data supplied by Asian Private Banker, Nomura manages about 10 billion USD in Asia apart from its Japanese market. It also has 10 firms across Asia, each of which manages about 50 billion USD excluding its operations in mainland China.
Hibino added that Nomura is in a good position to connect better to wealthy potential clients across Asia because it enjoys a healthy and robust network. He also added that the brokerage is also looking forward to not only serve foreign clients, but also Japanese nationals who are living and working abroad.
In China, Nomura has also started hiring experienced private bankers in the Chinese financial sector. Furthermore, it is already restructuring its retail businesses as it serves one trillion USD of client assets. At present, the company focuses its efforts on wealth management services in Singapore and Hong Kong. There, its bank branches would serve financial markets from Australia, Southeast Asia, and Greater China as well.
