Nomura has incorporated a crypto subsidiary in Switzerland and shifted a senior executive there to lead the unit.
Nomura has named its digital asset business Laser Digital and incorporated a holding vehicle under the name Laser Digital Holdings in Switzerland, according to a statement. The unit will be led by Steven Ashley as chairman and Jez Mohideen as chief executive officer.
Ashley was most recently the head of the wholesale division and he will be succeeded by Christopher Wilcox in that role. In turn, Satoshi Kawamura has been appointed to replace Wilcox as CEO and president of Nomura Holding America and Nomura Securities International. In addition, Vincent Primiano will be appointed co-CEO and co-president of Nomura Holding America as well as co-CEO of Nomura Securities International.
Laser Digital
According to Nomura, Switzerland was selected because of its established status in the crypto market, having «a robust regulatory regime for digital assets and blockchain projects, and an attractive talent pool.»
Moving forward, Laser Digital will focus on the three main areas of secondary trading, venture capital, and investor products. Its first launch will be Laser Venture Capital, which invests in companies in the digital ecosystem with a focus on decentralized finance, centralized finance, Web3, and blockchain infrastructure.
Crypto Push
Nomura’s digital asset push is a «critical part» of broader efforts to boost profits. In May, the Japanese lender announced its plans for the crypto subsidiary and also debuted bitcoin derivatives to clients in Asia.
«Staying at the forefront of digital innovation is a key priority for Nomura,» said president and group CEO Kentaro Okuda.
