Nomura launches Investment Banking operations in India
Nomura Financial Advisory and Securities (India) Private Ltd. (Nomura India), a wholly owned subsidiary of Nomura Holdings, Inc. (Nomura), has launched its Equity Sales and Trading and Investment Banking operations in India.
In October 2008, Nomura, the pre-eminent global investment bank, acquired the majority of Lehman Brothers' employees in India, including the Equities Sales and Trading, Equity Research, Fixed Income Liquid Markets Sales and Trading, and Investment Banking teams. By integrating the former Lehman Brothers India franchise and obtaining its Merchant Banking license and stock exchange memberships, Nomura India has significantly expanded its capabilities in India through a wide range of onshore financial solutions spanning securities brokerage, securities underwriting and advisory services.
Takumi Shibata, COO of Nomura Holdings, commented: "India is one of the most important regions for Nomura's global expansion. Under the leadership of Vikas Sharma, President and CEO of Nomura India, and with a strong team combining Nomura and former Lehman Brothers' expertise in India, I am confident that our footprint in India will significantly expand."
Currently, Nomura employs over 2,600 people in India, including its global services hub in Powai, headed by RK Rangan, which supports Nomura's infrastructure, systems and processes globally. Tarun Jotwani, former chairman and chief executive officer of the Lehman Brothers India entity, now serves as head of Global Fixed Income for Nomura and is based in Tokyo.
Global Markets - Equities and Fixed Income
Upon obtaining membership with the National Stock Exchange of India Ltd. and the Bombay Stock Exchange Ltd., Nomura India launched its Equity Sales and Trading business, providing its global institutional clients with access to the local Indian market. Nomura India's initial focus is on the sales and trading of Indian equities, futures and options, and the firm is in the process of seeking necessary regulatory approvals for offering direct market access (DMA) to its institutional clients in the second quarter of calendar year 2009. Lehman Brothers was among the first firms in India to launch algorithmic DMA, and also brings to Nomura its market-leading capabilities in listed derivatives. The entire former Lehman Brothers Equities and Fixed Income Liquid Markets team joined Nomura India, and the combined group is led by Pankaj Vaish.
Nomura also intends to launch a Fixed Income business in India, on receipt of necessary regulatory approvals.
Investment Banking
Nomura India obtained its Merchant Banking licence from the Securities and Exchange Board of India, which allows the firm to provide investment banking services. Led by Vikas Sharma and Surojit Shome, deputy head of Investment Banking, India, and with the addition of the former Lehman Brothers investment banking team, Nomura India has strengthened its ability to offer its Indian clients capital raising and corporate finance solutions.
Vikas Sharma commented: "With the establishment of our onshore business platform, Nomura India will be able to further provide client-centric, world-class financial solutions that bridge India's capital markets and the world."
According to Thomson Reuters M&A rankings, Nomura ranks No. 1 by value in Asia ex-Japan completed transactions for the 2008 calendar year. Nomura has advised on six transactions over US$1 billion each for India-related corporates, and completed five of the six largest-ever ADRs.
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