Nomura Holdings’ asset management business is booming after a years-long reorganization that has seen its thousands of retail bankers shift away from serving the masses of Japanese investors to focus more on the wealthy.
The division that generates a quarter of revenue at Japan’s largest brokerage has moved beyond the era of staff reductions and is now keen to recruit mid-career talent, said Go Sugiyama, head of asset management. He is also open to the possibility of buying other businesses to expand.
Banks around the world are trying to follow the lead of Morgan Stanley and UBS Group by strengthening their asset management businesses to ensure that revenues grow even during turbulent financial markets.
