Nomura's new CEO faces tough initiation juggling overhaul and virus
It was supposed to be a smooth transition for Nomura Holdings Inc.'s new boss. Then the coronavirus struck. Thanks to the pandemic, Kentaro Okuda, 56, takes the reins of Japan's biggest brokerage on Wednesday with the prospect of deals drying up as bankers keep away ...
Asia's stuck-at-home millionaires boost trading at private banks
Asia's super rich suddenly have lots of time on their hands. The coronavirus has forced many of them to work from home, cancel travel and avoid the golf course. That's left them more time to trade stocks amid the turmoil, boosting revenue for Citigroup Inc. ...
Morgan Stanley charts ambitious course with $13 billion E-Trade deal
Morgan Stanley said Thursday it will buy discount brokerage E-Trade Financial Corp. in a stock deal worth about $13 billion, the biggest acquisition by a Wall Street bank since the 2008-2009 financial crisis. Part of a broader consolidation in the discount brokerage sector, the move ...
Nomura is finally making money from Asia investment banking
Nomura Holdings Inc.'s investment banking business in Asia is set to return to profit this fiscal year after more than a decade of losses since its Lehman Brothers Holdings Inc. acquisition, according to its division chief. Cost cuts and fees from financing will drive the ...
Japan's online brokers turning to independent financial advisers to boost growth
Internet-based securities companies are tying up with independent financial advisers, or IFAs, which recommend suitable financial products. Online securities houses, which have been growing thanks to low brokerage commissions made possible by branchless operations, hope to reinforce their customer bases through IFAs' face-to-face tailored advice ...
Goldman Sachs poised to enter Japan wealth management business
Goldman Sachs Group Inc. plans to start offering wealth management services in Japan, a person with knowledge of the matter has said. The U.S. bank will target high net worth individuals through its asset management unit, the person said, asking not to be identified because ...
Nomura pushes ahead with China hiring, says virus outbreak may slow plans
Nomura Holdings Inc. is moving forward with plans to hire wealth managers for its new China operation, though the outbreak of the new coronavirus threatens to slow the expansion, according to an executive overseeing the project. "We are entering the phase of adding front-line ...
Price war between online brokerages prompts scrutiny from Japanese regulator
A fierce price war among Japan's online brokerages is starting to draw regulatory attention. The Financial Services Agency plans to ask online securities firms about the effects of recent price reductions as part of ongoing discussions on their business models, an FSA official said. Competition to ...
Nomura hiring dozens to expand wealth-management drive to rest of Asia
Nomura Holdings Inc. plans to hire dozens of private bankers in Hong Kong and Singapore in a bid to extend its wealth management push from Japan and mainland China to the rest of Asia. The Tokyo-based firm, which has already outlined aggressive plans for China, ...
In wake of info leak, Nomura Holdings shareholders urged to reject CEO's re-election bid
Nomura Holdings Inc. shareholders should vote against the reappointment of its long-standing chief executive officer after Japan's biggest brokerage was penalized for leaking market-sensitive information, according to Institutional Shareholder Services Inc. CEO Koji Nagai "should be held responsible for the information leakage incident" and so ...
Nomura CEO to take 3-month pay cut over leak of information about Japan stock market changes
Nomura Holdings Inc.’s CEO will take a pay cut to assume responsibility for improper handling of stock market information by employees.
Daiwa targets younger investors with new online brokerage unit
Daiwa Securities Group Inc., Japan's second-biggest brokerage, unveiled plans to start a unit focused on mobile services as early as next year to win younger clients. Daiwa and larger rival Nomura Holdings Inc. face pressure to appeal to new investors as older clients pull money ...
