On May 10, Nomura Holdings Inc. announced that it would partner with Jarden Group Ltd. in New Zealand and Australia.
Jarden is an Auckland-based investment and advisory group on both sides of Tasman. . Nomura Holdings is a Japanese investment bank that is primarily engaged in investment and financial business.
The collaboration comes after Jarden ended its long-standing strategic partnership with Credit Suisse Group, while Nomura is looking to expand its global presence. At a time when the domestic market is dwindling due to decreasing population, Nomura is working to expand its primary business abroad, which involves underwriting and transaction advisory.
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Nomura was hit with a $2.9-billion loss from the collapse of US investment fund Archegos, the second-biggest hit after Credit Suisse. The Japanese investment bank posted a net loss of $1.4 billion in Q4.
Last month, Nomura CEO Kentaro Okuda stated that the bank would work on building its US platform while enhancing risk management.
Alliance to bring in complementary abilities of both the firms
The partnership would combine the complementary skills of both the firms for the good of customers. They will provide clients with a comprehensive range of market-leading offerings thanks to their strong local ties.
Jarden will bring in trusted and long-term relationships and knowledge, while Nomura will help investors in the equity capital markets with its global network, product capabilities, and solid balance sheet to help clients across debt capital markets, acquisition, leverage finance and equity capital markets.
James Lee, the CEO of Jarden Group, stated that Nomura was a reliable and valued company with around a 100-year history. Shared values propel both the organisations with an unwavering dedication to customer needs and an emphasis on ensuring a long-term future. He also stated that Jarden was looking forward to a long-term partnership with Nomura.
Australasia is a critical market for Nomura, as per Kenji Teshima, Head of Investment Banking, Asia ex-Japan, Nomura. In a post-pandemic climate, a robust forecast transaction activity across all items would prefer investment banks that can serve clients around the capital structure.
Nomura also announced in another statement that it was contemplating forming a joint venture with Chiba Bank and two other Japanese regional banks to provide wealth management advisory services by September.