Nomura retreats from EMEA and Americas
12 April 2016 Tokyo
Image: Shutterstock
Nomura is closing certain businesses in Europe, the Middle East, Africa and the Americas in order to consolidate its position in Asia.
The Japanese bank cited “extreme volatility and a significant decline in liquidity, triggered by heightened uncertainty in the global economy” as the driver behind the closures.
Nomura’s Asia Pacific platform will remain unchanged.
“We are taking decisive action to refine the services we offer to our clients, while continuing to leverage our dominance and unique strengths in Asia, providing tailored solutions to our clients globally and continuing our 90 year legacy of putting clients at the heart of everything we do,” said Tetsu Ozaki, COO of Nomura Group.
“This exercise will deliver significant efficiencies and cost savings for Nomura, refocusing the firm’s activities and reallocating resources towards its areas of expertise and most profitable business lines.”
The full scope of the cuts will be announced on 27 April, along with Nomura’s Q4 and full year operating results.
The Japanese bank cited “extreme volatility and a significant decline in liquidity, triggered by heightened uncertainty in the global economy” as the driver behind the closures.
Nomura’s Asia Pacific platform will remain unchanged.
“We are taking decisive action to refine the services we offer to our clients, while continuing to leverage our dominance and unique strengths in Asia, providing tailored solutions to our clients globally and continuing our 90 year legacy of putting clients at the heart of everything we do,” said Tetsu Ozaki, COO of Nomura Group.
“This exercise will deliver significant efficiencies and cost savings for Nomura, refocusing the firm’s activities and reallocating resources towards its areas of expertise and most profitable business lines.”
The full scope of the cuts will be announced on 27 April, along with Nomura’s Q4 and full year operating results.
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