Nomura Bank (Switzerland) reported a 81 per cent fall to SFr92 million ($73 million) in assets under management in 2004, with rich Japanese ...

Nomura Bank (Switzerland) reported a 81 per cent fall to SFr92 million ($73 million) in assets under management in 2004, with rich Japanese clients withdrawing around SFr330 million. The bank gave no reason for the fall and was not contactable yesterday to give an explanation of the fall. Despite the fall in AUMs, the bank reported a net profit of SFr13.3 million in 2004, a 24 per cent rise on the number for 2003. Most of the rise was due to corporate work, according to the bank’s accounts. A subsidiary of Nomura Securities in Tokyo, the bank is based in Zurich, with a branch in Geneva. It employs around 54 people.