Nomura incoming CEO says to speed up reform, domestic retail business seen in focus

) incoming chief executive Kentaro Okuda said on Tuesday he wanted to speed up the pace of reform at the country’s largest brokerage, which has long struggled to make its mark globally and must deal with a shrinking retail business at home.

Never realizing its ambition of becoming a global investment bank or even gaining a strong footing after its 2008 disastrous acquisition of Lehman Brothers’ Asian and European businesses, Nomura last year posted its first annual loss in a decade. “I want to speed up our pace of reform, taking it into account the change that is affecting our customers and financial markets,” he said.

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