-- Nomura Holdings Inc. is targeting 20% revenue gains for its global markets unit over the next few years as the Japanese brokerage moves past the Archegos Capital Management scandal with new initiatives to spur growth, according to the business head.Macro, credit and securitized products and equities will each contribute 25% to 30% of the growth, with the remaining 15% coming from wealth management, Rig Karkhanis, who was made head of global markets a year ago, said in an interview in London.
In the past two years, the biggest Japanese brokerage has revamped trading teams for its rates and fixed-income business in Europe, the Middle East, Africa and Asia. It also made several senior hires in wealth management, reorganized its global securitization and financing businesses under a single umbrella, and brought in new talent for equity trading.
The company has created a global sales organization that enables cross-regional, cross-product selling as it seeks to leverage its position in Japan. Nomura’s home country accounts for 25% of the division’s global revenue, said Karkhanis, who oversees 3,500 people.
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