Opinions on Nomura US

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.

Comments (24)

 
May 23, 2013 - 10:44am

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.

"There are three ways to make a living in this business: be first, be smarter, or cheat."
 
May 23, 2013 - 10:45am

Sandhurst:
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.

 
May 23, 2013 - 10:48am

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

 
May 23, 2013 - 10:51am
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