Nomura continues to expand its wealth management operations in Asia and the Middle East, naming a senior figure who has worked at Deutsche Bank, Citibank and UBS, among others.
Nomura, the Japanese
banking house, has appointed former senior Deutsche Bank figure
Anurag Mahesh to join its international wealth management arm,
adding to a number of appointments this year.
Based in Singapore, Mahesh is responsible for the business’s client relationship management teams for Southeast Asia, global South Asia and the Middle East.
The role is a newly created one, the Tokyo-listed group said in a statement last Friday. His arrival comes in the wake of Nomura’s recruitment of 23 new private bankers in 2023, including four managing directors. A total of about 70 private bankers have joined the firm in the past three years, it said.
Mahesh will report to Ravi Raju, Nomura’s head of international wealth management.
“We have made tremendous progress over the past three years in building our wealth management platform, more than doubling assets under management. To have someone of Anurag’s calibre and experience join us will enhance our growing presence and capabilities, and demonstrates that we continue to attract top talent,” Raju said.
Prior to his new role, Mahesh was vice-chairman of wealth management in Asia Pacific for Deutsche Bank. Previously, he was UBS’s co-head of global family offices, Asia-Pacific, and in an earlier stint at Deutsche Bank, its global head of key client partners. Mahesh’s early career saw him spend 13 years at Citibank in various roles across Asia. He holds a bachelor’s degree in mechanical engineering from the Indian Institute of Technology, Mumbai, and an MBA from the Indian Institute of Management, Ahmedabad. He is also a CFA charter holder.
The firm has been building its footprint, such as in the Gulf region. In July, it expanded its international wealth arm by taking up residence in the Dubai International Financial Centre.
In April, Nomura appointed former Citi Private Bank top figure Dr Rudolf Hitsch in the newly-created role of head of North Asia for its international wealth management business. He had the same role at the private bank of Citigroup.