Nomura Holdings plans to expand its Singapore and Hong Kong wealth management teams, Reuters reported Friday.
The investment bank is looking to hire another 50 relationship managers over the next two years, taking the total to 135 to 150, with a focus on clients from Greater China, which has a growing affluent base, the report said.
The report said Nomura has already hired more than 50 relationship managers from other banks, including BNP Paribas and Deutsche Bank.
Asia’s Wealthy Ranks Growing
«All the studies done by external experts show that wealth in Asia is going to be growing at 8-10 percent on a yearly basis. The pie is growing and our piece of the pie is also expanding,» Ravi Raju, the head of Nomura’s international wealth management unit, told Reuters in an interview.
The number of ultra-high net worth individuals (UHNWI) in China is expected to grow by around 46 percent between 2020 and 2025, according to the property consultancy Knight Frank’s Wealth Report on Greater China for 2021. For Hong Kong, that figure is expected to grow by around 26 percent, the Wealth Report said.
Adding New Customers
In Asia, the UHNW population is expected to grow 39 percent from 2020 to 2025, the Wealth Report said.
Raju told Reuters the global wealth management unit has added around 600 new customers over the past 12 months.
Nomura is also studying expanding into Dubai as a center for Middle East marketing, the report said.
