Bloomberg reports that about 650 recruits joined Nomura’s domestic securities unit Monday, 6% more than last year, with most to be assigned to retail operations, said Kenji Yamashita, a spokesman for Japan’s largest brokerage. Daiwa boosted its intake by 50% to about 450, spokesman Hiroharu Misawa said.
Buoyed by the stock market’s climb to a four-year high, Japanese investment banks are adding students fresh out of school to bolster retail operations even as they cut resources abroad. Business sentiment rose in March and confidence among brokerages jumped by a record as Prime Minister Shinzo Abe led efforts to end deflation, a central bank survey showed Monday.
'The hiring increase shows the worst is over and the business environment in banking is getting better', said Katsunobu Komizo, President at Executive Search Partners Co., Japan’s biggest recruitment firm focusing on banks.
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