Nomura Holdings' wealth management business is on a growth path after a multiyear overhaul that saw its thousands of retail bankers shift away from catering to the masses of Japanese investors toward the well-to-do.
The division that generates a quarter of revenue at Japan’s biggest brokerage is past an era of reducing staff and is now keen to recruit mid-career talent, said Go Sugiyama, head of wealth management. He is also open to the possibility of buying other companies to expand.
Banks around the world are trying to emulate the likes of Morgan Stanley and UBS Group by beefing up their wealth business to ensure revenue grows even in times when financial markets are rocky.
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