Nomura’s new CEO faces uphill task balancing rejig and COVID-19 impact

A man walks next to a sign for Nomura Securities in Tokyo July 25, 2013. REUTERS/Yuya Shino

It was supposed to be a smooth transition for Nomura Holdings Inc.’s new boss. Then the coronavirus struck.

Thanks to the pandemic, Kentaro Okuda, 56, takes the reins of Japan’s biggest brokerage on Wednesday with the prospect of deals drying up as bankers keep away from clients, and companies retreating in the face of an impending recession. Increased stock trading is a silver lining, though one unlikely to diminish the challenge of turning around the retail business at home.

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