'The region will generate the biggest fees'.
Nomura is looking to hire more U.S. bankers to help it capture a greater share of overseas deal-making by Japanese firms, as it seeks to overtake its rivals in the mergers and acquisitions rankings.
Bloomberg News reports that the brokerage was looking “once again” to hire bankers to expand its M&A business in the Americas, Nomura Securities Co. President Toshio Morita said in an interview Wednesday.
“I have to face the league tables as a reality, and that will be a challenge,” said Morita, 55, who became president this month. “We will have to expand in the Americas once again as Japanese companies are increasingly doing global M&A in the region, and the region will generate the biggest fees.”
His comments come after Nomura eliminated about 900 jobs, mainly in Europe and the U.S., over the past 12 months in areas such as stock research, equity capital and leveraged finance. The cuts appear to have helped its overseas business, which is set to return an annual profit for the first time in seven years.
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