WEALTH MANAGEMENT | Staff Reporter, Korea

Nomura establishes local subsidiary in Korea

Under the Financial Investment Services and Capital Market Act, the Financial Services Commission of Korea has granted final approval for the conversion of Nomura's Korean branch into a licensed subsidiary.

The local subsidiary, with registered legal name Nomura Financial Investment (Korea) Co., Ltd., is targeted to commence 28 May 2010.

The establishment of the Korean subsidiary, according to a Nomura statement, will allow the global investment bank to expand its product range and enhance its services for its clients.

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