Nomura pushes ahead with China hiring, says virus may slow plans

Nomura pushes ahead with China hiring, says virus may slow plans

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. is moving forward with plans to hire wealth managers for its new China operation, though the coronavirus outbreak threatens to slow the expansion, according to an executive overseeing the project.

“We are entering the phase of adding front-line staff,” including bankers who sell investment products to rich clients, Toshiyasu Iiyama, the brokerage’s China committee chairman, said in an interview on Monday. While the spreading virus has yet to cause any noticeable delays to the strategy, it has the potential to “slow the speed,” he said.

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