Over 40 private bankers will be employed by Nomura across Asia and the Middle East

Nomura Holdings (8604.T) is set to bolster its presence in Asia and the Middle East by recruiting over 40 private bankers within the next two years. The move aims to capitalize on the growing number of affluent families and entrepreneurs in these regions, according to the head of its international wealth management division who spoke with press.

Nomura's strategic focus on expanding wealth management aligns with its broader objective of generating revenue that is less susceptible to market fluctuations. The top Japanese investment bank has encountered occasional significant financial setbacks in its global expansion efforts.

Presently, the business has a team of 91 private bankers based in Singapore, Hong Kong, and Dubai, catering to prosperous clients in Greater China, Southeast Asia, and the Middle East. Nomura has strategically repositioned its wealth management business as part of the wholesale division. This move is designed to offer a comprehensive suite of investment products and services to high-net-worth individuals, mirroring the array of offerings provided to institutional clients. These services encompass a spectrum from equities to structured products, further solidifying Nomura's commitment to serving the diverse needs of its clientele in these thriving markets.