Nomura’s new global markets strategy: less risk, more revenue
Japan’s top dealer is moving away from risk warehousing to chase real money clients and go global
Rig Karkhanis took the job as Nomura’s head of global markets in February 2023 knowing it was a turnaround project.
The markets business had a high cost-to-income ratio that was dragging down return on equity (ROE). The European business was underperforming. And there were lingering questions about the outlook for the international business Nomura acquired from Lehman Brothers after 2008 the global
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