Nomura announces EMEA, Americas restructuring

Nomura Holdings has announced a restructuring of its wholesale business in EMEA and the Americas following extreme volatility in global markets and a big drop in liquidity in the second half of last year.

Following a strategic assessment of its international operations, Japan’s largest brokerage will close certain businesses in EMEA, while in the Americas, it will rationalise certain areas but remain committed to its core client offerings.

The company said its AsiaPacific platform will not be affected by the changes.

Nomura said the changes will position it for sustainable profitability under the new market and regulatory environment, reaffirming its commitment to improving the performance of its international business.

“We are taking decisive action to refine the services we offer to our clients, while continuing to leverage our dominance and unique strengths in Asia, providing tailored solutions to our clients globally and continuing our 90 year legacy of putting clients at the heart of everything we do,” said chief operating officer Tetsu Ozaki.

“This exercise will deliver significant efficiencies and cost savings for Nomura, refocusing the firm’s activities and reallocating resources towards its areas of expertise and most profitable business lines.”

It was not clear how many jobs would be lost, with Reuters reporting that between 500 and 600 positions would go and The Nikkei suggesting up to 1,000.

A full strategic plan outlining all the changes will be presented on 27 April, along with the group’s fourth quarter and full year results.