Nomura agreed to purchase Macquarie’s U.S. and European public asset management business for $1.8 billion (¥254 billion), marking the Japanese brokerage’s most significant overseas acquisition since it bought Lehman Brothers assets in 2008.
The all-cash deal, subject to approvals, will give Nomura about $180 billion in client assets across equities, fixed income and multi-asset strategies, it said in a statement on Tuesday.
Tokyo-based Nomura has been expanding in asset management in a bid to generate more stable income and reduce its reliance on volatile trading and investment banking. It’s also seeking to capitalize on a greater willingness of Japanese individuals to invest their savings as the country emerges from decades of deflation.
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