Nomura said to have narrowed down Brexit location choice

Nomura has narrowed down its hunt for a post-Brexit European subsidiary, with Frankfurt reportedly emerging as the frontrunner in the latest vote of confidence in the German financial hub.

The Irish Independent reports that Nomura serves the bulk of its European clients through its regional head offices in London, but the Press Association has reported that it is considering fully licensing operations in Frankfurt - where it already has a branch - to continue accessing the EU's single market after Brexit.

It means the bank may be joining Japanese firm Daiwa, which is also understood to be finalising plans for a new European base in Frankfurt.

A Nomura spokesman said no final decision had been made.

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