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UPDATE 1-Nomura partners with Jarden in NZ, Australia investment banking

Published 10/05/2021, 05:13 pm
Updated 10/05/2021, 05:18 pm
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(Adds plan for joint venture with regional banks, background)

TOKYO, May 10 (Reuters) - Nomura Holdings Inc 8604.T said on Monday it will team up with Auckland-based investment and advisory firm Jarden Group Ltd in New Zealand and Australia, as Japan's biggest investment bank and brokerage seeks to expand its global presence.

The alliance includes supporting clients across equity and debt capital markets as well as merger-and-acquisition (M&A) finance, Nomura said in a joint statement with Jarden.

The announcement comes after Jarden dissolved its long-standing strategic alliance with Credit Suisse Group CSGN.S .

Nomura is working to build up its primary business overseas that includes underwriting and deal advisory, at a time when a declining population at home is pointing toward a shrinking domestic market.

Last year, Nomura bought Greentech Capital Advisors, a U.S. M&A advisory firm specialising in renewable energy.

Despite a $2.9 billion hit from the collapse of U.S. investment fund Archegos, Nomura chief executive Kentaro Okuda last month affirmed his commitment to the global business strategy. a separate statement on Monday, Nomura said it was considering launching a joint venture with Chiba Bank 8331.T and two other Japanese regional banks by September to provide consulting services for wealth management.

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