Nomura to start hiring again after cost cutting

'There are tremendous business opportunities'.

Nomura plans to hire bankers in the U.S., resuming a push to boost investment-banking business in a market that remains a priority for Japan’s biggest brokerage following a round of cost cuts.

Bloomberg News reports that the firm anticipates rising volumes of mergers and stock offerings in the U.S., said Chief Operating Officer Tetsu Ozaki, who is seeking bankers to cover industries including technology, consumer and pharmaceuticals. While the brokerage has no clear numerical target, it has room to recruit 20, Ozaki said in an interview on August 15.

His remarks reflect Nomura’s strategy to selectively tap opportunities for growth in the world’s biggest investment-banking market, even as it shrinks in areas such as equity research and leveraged finance. Chief Executive Officer Koji Nagai this year began eliminating jobs and shutting businesses in Europe and the Americas to save about $700m and stem six years of losses abroad. At the same time, he is seeking to regain lost ground in cross-border mergers advice as Japanese companies increasingly look overseas for growth.

“There are tremendous business opportunities for M&A and currency hedging in the Americas,” said Ozaki, 58, who took the post in a management shuffle in April. “Our clients will pay closer attention to the region over the next five to 10 years.”

To access the complete Bloomberg News article hit the link below:

Nomura Back in Hiring Mode for U.S. Bankers After Cost Cuts

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