Nomura is hiring dozens of private bankers for Asia wealth drive

A pedestrian walks past a Nomura Securities Co. branch, a unit of Nomura Holdings Inc., in Tokyo, Japan, on Thursday, Oct. 27, 2016. Nomura's second-quarter profit jumped 31 percent as trading income made up for a slump in its retail brokerage business. Photographer: Kiyoshi Ota/Bloomberg

Nomura Holdings Inc. plans to hire dozens of private bankers in Hong Kong and Singapore in a bid to extend its wealth management push from Japan and mainland China to the rest of Asia.

The Tokyo-based firm, which has already outlined aggressive plans for China, aims to grow the assets it manages from those two hubs by five times to $50 billion by March 2026, said Yuji Hibino, a senior managing director in charge of the business for Asia excluding Japan. He wants to almost double the number of relationship managers to 100 in three years, from 57 as of December.

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