Japanese investment bank Nomura has launched operations in Saudi Arabia to distribute a range of securities, including structured products, a Nomura spokesperson told SRP.
Under the licence from Saudi Arabia's Capital Market Authority (CMA), Nomura will be able to offer corporate finance, capital markets and wealth management services, and deal as an agent for overseas securities.
"As the first Asian securities firm in Saudi Arabia, Nomura is especially well placed to bridge and facilitate the growing commercial interests between the Gulf and the Far East, and strengthen emerging trading relationships. Nomura is making a significant commitment to the region, supporting our view that the Gulf is emerging as a major capital market," the representative said.
Chairman of Nomura Saudi Arabia Takuya Furuya said the firm looks forward to building out its team on the ground in Riyadh to support emerging opportunities as markets recover.
Nomura has been present in the region since 1974, with offices in Dubai and Bahrain, and recently received a licence to provide corporate finance and capital markets services from the Qatar Financial Centre.