Nomura International, Tokyo-based global investment bank, has launched Saudi Arabia operations following the receipt of its commencement letter from Capital Market Authority (CMA), to undertake a range of securities businesses in the Kingdom.
Under the licence, Nomura would be able to offer corporate finance, capital markets and wealth management services for clients in Saudi Arabia, as well as deal as agent for overseas securities.
Philip Lynch, CEO, Middle East and Africa, Nomura, said: “Saudi Arabia accounts for around 50% of GCC GDP, and as such a strong local presence is a critical part of Nomura’s regional strategy. As the first Asian securities firm in Saudi Arabia, Nomura is especially well placed to bridge and facilitate the growing commercial interests between the Gulf and the Far East and strengthen emerging trading relationships.”
Takuya Furuya, Chairman, Nomura Saudi Arabia, said: “This is an exciting step in the development of Nomura’s business across the region as we look to extend our capability to this important economy. We look forward to introducing our distinctive brand and business model in the Kingdom and building out our team on the ground in Riyadh to support emerging opportunities as markets recover.”
