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Nomura Holdings Seeks to Hire U.S. Bankers Post Cost Cuts
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Japanese brokerage giant Nomura Holdings Inc. (NMR - Free Report) is planning to hire bankers in the U.S., with an aim to boost the investment banking business in its priority market, per a Bloomberg report. This follows a series of cost cutting initiatives adopted by the company earlier this year.
Earlier in Dec 2015, Nomura Holdings had announced its plan to hire bankers in the U.S., before the investment banks across the world reported one of the worst quarters in history. The company is now reviving its hiring plans after reporting its biggest pre-tax profit abroad in seven years, for the quarter ended Jun 30, 2016.
Growth Opportunities Driving Expansion Plans
The year began with Nomura Holdings eliminating jobs and shutting businesses in Europe and America. This was in line with the company’s strategy to cut costs. Nevertheless, the company is now strategizing to tap growth opportunities in the world’s biggest investment banking market.
Nomura Holdings seeks to provide merger advice to mid-size U.S. companies (having a market value less than $10 billion) and to increase the number of cross-border deals involving Japanese firms through its hiring initiatives. Further, the company seeks to manage more equity offerings and provide strategies for currency hedging for acquisitions.
The rising volume of mergers and stock offerings in the U.S. market will help enhance the company’s growth as it plans to employ bankers to cover industries like technology, consumer and pharmaceuticals.
According to the Bloomberg data, Nomura Holdings was ranked third among Japanese financial advisers in the first half of 2016. Notably, the company has not been able to regain its top position since 2011. So, the company plans to regain strength in cross-border merger advice as most of the Japanese companies are increasingly depending upon overseas expansion for their growth.
Though the brokerage firm has no target fixed for number of investment bankers to be hired, it can recruit up to 20 bankers. Earlier, the company boosted the number of M&A bankers in Japan by about 10–15% in order to handle more cross-border transactions. Further in America, the company added six investment bankers and more than thirty junior staff in 2015.
Currently, Nomura Holdings carries a Zacks Rank #3 (Hold).
Some better-ranked finance stocks include Meta Financial Group, Inc. (CASH - Free Report) , Comerica Incorporated (CMA - Free Report) and Flagstar Bancorp Inc. , each sporting a Zacks Rank #1 (Strong Buy).
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Nomura Holdings Seeks to Hire U.S. Bankers Post Cost Cuts
Japanese brokerage giant Nomura Holdings Inc. (NMR - Free Report) is planning to hire bankers in the U.S., with an aim to boost the investment banking business in its priority market, per a Bloomberg report. This follows a series of cost cutting initiatives adopted by the company earlier this year.
Earlier in Dec 2015, Nomura Holdings had announced its plan to hire bankers in the U.S., before the investment banks across the world reported one of the worst quarters in history. The company is now reviving its hiring plans after reporting its biggest pre-tax profit abroad in seven years, for the quarter ended Jun 30, 2016.
Growth Opportunities Driving Expansion Plans
The year began with Nomura Holdings eliminating jobs and shutting businesses in Europe and America. This was in line with the company’s strategy to cut costs. Nevertheless, the company is now strategizing to tap growth opportunities in the world’s biggest investment banking market.
Nomura Holdings seeks to provide merger advice to mid-size U.S. companies (having a market value less than $10 billion) and to increase the number of cross-border deals involving Japanese firms through its hiring initiatives. Further, the company seeks to manage more equity offerings and provide strategies for currency hedging for acquisitions.
The rising volume of mergers and stock offerings in the U.S. market will help enhance the company’s growth as it plans to employ bankers to cover industries like technology, consumer and pharmaceuticals.
According to the Bloomberg data, Nomura Holdings was ranked third among Japanese financial advisers in the first half of 2016. Notably, the company has not been able to regain its top position since 2011. So, the company plans to regain strength in cross-border merger advice as most of the Japanese companies are increasingly depending upon overseas expansion for their growth.
Though the brokerage firm has no target fixed for number of investment bankers to be hired, it can recruit up to 20 bankers. Earlier, the company boosted the number of M&A bankers in Japan by about 10–15% in order to handle more cross-border transactions. Further in America, the company added six investment bankers and more than thirty junior staff in 2015.
Currently, Nomura Holdings carries a Zacks Rank #3 (Hold).
Some better-ranked finance stocks include Meta Financial Group, Inc. (CASH - Free Report) , Comerica Incorporated (CMA - Free Report) and Flagstar Bancorp Inc. , each sporting a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>