Nomura bulks up Asia wealth business in quest for bigger share of lucrative segment

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Nomura bulks up Asia wealth business in quest for bigger share of lucrative segment
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SINGAPORE : Nomura Holdings is steadily building its global wealth management business and plans to further expand its Singapore and Hong Kong hubs, as Japan's biggest securities firm accelerates a push into a highly competitive sector. Just over a year after Nomura snagged Ravi Raju to spearhead its ambition

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s in the wealth operations, the veteran banker has led a hiring spree as part of its efforts to diversify from its home market and capture a slice of an affluent and growing pool of Asian clients.

In April 2020, Nomura brought its wealth management unit exJapan under its wholesale division - made up of its global markets and investment banking franchises. Singapore-based Raju, who has had a 30-year stint in financial markets, is credited with building up Deutsche's asset and wealth management franchise in Asia. He last spent nearly four years at UBS heading its Asia Pacific ultra high networth and global family office business.

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