Nomura Holdings Inc.’s wealth management unit is expanding after a major overhaul that shifted focus from mass retail to wealthy clients. The division, generating a quarter of Nomura’s revenue, is now recruiting mid-career talent and exploring acquisitions, said Go Sugiyama, head of wealth management. This shift mirrors global trends as banks like Morgan Stanley and UBS prioritise wealth management to ensure steady revenue amid market volatility. Nomura’s domestic retail business, a consistent performer, saw recurring assets hit JPY24.3tr (USD168bn) in June. Despite a stock-market dip, Sugiyama remains optimistic, citing increased customer investments. Nomura, under CEO Kentaro Okuda, aims to further grow these assets, while focusing on enhancing staff capabilities and potentially expanding through acquisitions.
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