Nomura Holdings Inc. is gaining mainland Chinese clients faster than it expected, a senior executive said, adding to signs of progress in its broader Asian expansion.
The company’s majority-owned securities joint venture in Shanghai has won more than 300 customers for services including wealth management since it began operating about a year ago, said Toshiyasu Iiyama, head of Nomura’s China committee. "We are doing better than we thought,” he said in an interview.
Japan’s biggest brokerage is rebuilding in Asia after a sweeping global restructuring program helped to restore profit. Along with global titans such as Goldman Sachs Group Inc. and UBS Group AG, it’s competing for talent in China as President Xi Jinping opens up the financial industry to foreign competition.