Nomura acquires NikkoCiti Trust and Banking Corp
The Nomura Trust and Banking Co., Ltd., a wholly owned subsidiary of Nomura Holdings, Inc., has successfully completed the acquisition of NikkoCiti Trust and Banking Corporation. Nomura paid all-cash consideration of 19 billion yen, subject to certain purchase price adjustments to occur post-closing.
Under new management, NikkoCiti Trust and Banking will continue to focus on its traditional strengths of providing fiduciary and trustee services to investment trust management companies. Nomura is aiming to merge NikkoCiti Trust and Banking with Nomura Trust and Banking in 2010 and is moving swiftly to ensure a smooth integration of the two businesses.
Established in 1993, NikkoCiti Trust and Banking employed 107 people as of March 31, 2009, and had capital of 20 billion yen. Total trust assets stood at around 4.5 trillion yen at the end of March.
Nomura Trust and Banking provides both trust and banking services as a key Nomura Group company. Founded in 1993, Nomura Trust and Banking employed 261 people as of March 31, 2009, and had capital of 30 billion yen. Total trust assets were around 19.5 trillion yen at the end of March.
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