Anyone have any opinions on Nomura in US? They're retrenching from Europe (and US to an extent), but have grown considerably over the last few years in terms of no. of bankers. How would they feed into PE? Thanks all.
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i can't imagine they feed well into PE but could be off course on this one. last i spoke with friends there, dealflow was severely limited and mostly just pitches. this was a few months ago
Yeah post-scandal Nomura has been tough - they take summers but give out very few offers from what I've heard (at least in trading)
Landing a FT spot there has been absolutely brutal the past 2 years
I can confirm this. Very few offers were given to last summer's SAs.
From someone who did S&T SA last summer there, out of 28 SAs they gave returning offers to 3. Must be tough.
Thanks guys. I was hoping to hear more about their IBD division. I've seen them on a few deals, plus its a small team?
Their IBD is pretty weak, their focus is really on FI these days.
to echo above comments, IBD is not strong. exit to PE is not likely. havent seen or heard much of any traction there
They're quite weak in the US. Not so sure about retrenching from Europe as they're still hiring in IBD.
Does Nomura even work on M&A in the U.S.? Not trying to be sarcastic, just never come across them on M&A deals.
They're quite young in US, started foraying into American M&A only in 2009. What do you think of their prospects in the future?
They were supposedly building their U.S. platform around Glenn Schiffman (ex-Lehman) and then he bounced. And then they had the scandal. Looks like U.S. expansion put on hold or cancelled.
Nomura Americas growth prospects (Originally Posted: 01/24/2012)
Is Nomura still looking to grow and pursue its ambitious move to expand in the Americas?
I heard they were shuttering US operations but I guess that was just rumor?
I wouldn't be surprised if they pull the plug on the EU and Americas. Hard to grow when you don't have a strategy... or a clue.
Nomura has been growing aggressively in the US. They hired 1k people in the last year. They are also the largest firm in the states that is not affected by the Volcker Rule, so they will be the only broker-dealer with substantial trading operations. But their M&A is still shitty.
Hiring does not equate to a stable business, especially when you need to replace the trove of persons leaving.
How are they not affected by the Volcker rule. Please explain.
Net hiring in a time of net layoffs is equatable to management thinking that it has a growing business. So, accounting for managerial error, it's a generally good sign.
They are not affected by the Volcker Rule because they are not deposit-taking institutions; i.e. they never became banks, so they don't have to stop taking proprietary risks. MS, Goldman, etc all converted to "bank" status so they could access the Fed discount window during the crisis. Nomura got bailed out by Japan, which didn't have such a policy. Today, Nomura is the largest i-bank left on the street that is technically still an i-bank, as opposed to an i-bank division of a larger actual "bank/"
Well, at least the last time I met with Nomura (Q4 2011) they were planning to reduce exposure as a result of the Volker Rule. Nomura, along with other large Japanese proprietary investors (including Norinchukin Bank) are expected to meet Volker Rule requirements. While I do agree Nomura and others do not take deposits in the in the US, voluntary action is planned and should be expected.
Nomura's penchant for management error knows no boundaries. The most recent highlight is Wholesale Banking Chief Bhattal resignation.
Nomura will be acquired over the next year or so. Most everyone with a pulse around Tokyo knows this is coming.
http://www.ifre.com/smbc-nomura-now-theres-a-thought/20045409.article
i heard they fired 1st yr analysts in their asia offices.... not a good sign...
The above posts are depressing me.
I have an interview with Nomura tomorrow.
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