Nomura Holdings is targeting a 20% revenue increase for its global market unit in the coming years as the Japanese brokerage moves past the Archegos Capital Management scandal with new initiatives to boost growth, the company chief said.
Macro, credit and securitized products and equities will each contribute 25% to 30% of growth, with the remaining 15% coming from asset management, Rig Karkhanis, who became head of global markets a year ago, said in an interview in London. . The unit’s revenue rose 8% last year to ¥707.1 billion ($4.6 billion).
The company has seen sales rise for four straight quarters, helping the company’s overseas operations return to profit in the year ended March after three years of losses, including a nearly $3 billion hit by Archegos. Karkhanis’ division increased its workforce by 400 last year – its largest ever – while controlling costs by cutting non-revenue-generating positions and cutting trading costs, he said.
