The Japanese investment bank has expanded its wealth management business beyond Asia ex-Japan with the launch of its International Wealth Management (IWM) unit, which will target high-net-worth individuals (HNWIs).
Nomura’s IWM will develop products together with global markets (GM) and investment banking (IB) under the wholesale division, including structured products. The new unit has hired over 20 private bankers and investment advisors in Hong Kong and Singapore, taking the total employed in IWM to around 180, as the Japanese bank aims to more than triple assets under management in its IWM business by March 2025 by enhancing its client franchise, wealth management products and services plat