Nomura Holdings Inc. is on track to have more than 100 employees in its Chinese securities venture when it starts operations in December, people familiar with the matter said, as China opens up its $42 trillion financial industry to foreign competition.
The new hires are part of Nomura’s plans to develop wealth management and institutional brokerage business on the mainland, the people said, asking not to be identified because details of the plan aren’t public. The Tokyo-based company has received in-principle approval from Chinese regulators for four licenses, covering brokerage, proprietary trading, asset management and research, the people said.
