Nomura has created a new role, having identified wealth management in Asia as a growth priority, and has appointed a veteran banker from UBS with extensive experience in the region.
The firm has named veteran banker Ravi Raju as the head of its international wealth management business, according to an announcement on Thursday.
Based in Singapore, Raju will be responsible for growing Nomura’s wealth management business in Asia ex-Japan as the firm aims to tap into the growing ranks of wealthy individuals in the region, Nomura said. He will report to Rig Karkhanis, deputy head of global markets and head of global markets, Asia ex-Japan, with an additional reporting line into Steve Ashley, head of wholesale.
Since April 2020, Nomura’s wealth management business in Asia ex-Japan has been aligned under the firm’s wholesale division. «We are already a top wealth manager in Japan, and Ravi coming on board will enable us to capture a share of the growing wealth pool in the rest of Asia,» Ashley said.
Extensive Experience
Raju brings three decades of experience in the industry. He was previously UBS’ head of ultra-high net worth and one of its best-known bankers in Asia, but was left out in the cold when the bank reorganized its ultra-high net worth business under new co-head of wealth management Iqbal Khan.
Raju was previously with Deutsche Bank for 10 years in Hong Kong and Singapore, including as APAC head of asset and wealth management. He began his career with Citibank where he held several senior roles in Asia Pacific and the Middle East.
