People Moves

Nomura Asset Management Launches China Office

Vanessa Doctor, Asia Correspondent, 3 July 2011

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Nomura Asset Management has launched an office in Shanghai, as the Japanese bank seek to expand its Asia presence outside of its homeland. 

The new representative office is located at the Shanghai Central Plaza and focuses on researching companies in mainland China, the company said in a statement. It is headed by Takeshi Ebihara, previously the portoflio manager of the Japan equity unit. 

"Research is a high priority for us so we are excited to have a local presence in China that will allow us to identify promising Chiense companies," said Toshihiro Iwasaki, chairman and chief executive of Nomura Asset Management. 

Nomura has around $300 billion in assets under management as of 31 March 2011 and is looking to expand its Asian franchise. The company has already entered the other fast-growing industry of Islamic finance in Malaysia and has set up a joint venture with LIC, a life insurance firm in India.

Asia-ex Japan presents a strong growth opportunity for Nomura, where wealth is expected to rise at a rate of 11.4 per cent over the next five years, according to a report published in May from the Boston Consulting Group. 

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