Nomura continues its private banking expansion in Asia with the addition of an industry veteran from Bank of Singapore, finews.asia has learned.
Richard Hu has joined Nomura as a managing director and group head for Greater China, sources told finews.asia, effective as of today.
A spokesperson for the bank declined to comment.
Hu is a 20-year industry veteran, joining most recently from Bank of Singapore where he was a market head for Greater China. Previously, he held multiple senior roles covering the same market with Julius Baer, HSBC Private Bank, Credit Suisse, UBS and Citi Private Bank.
Private Banking Expansion
The latest addition marks another step in Nomura’s international wealth management (IWM) growth plans which include tripling its assets under management by March 2025.
In April, it added Greater China private bankers Steven Sun and Andrew Au, finews.asia reported.
In January, Nomura announced that it had hired over 20 private bankers in Hong Kong and Singapore.
