If you cannot box big, box clever. That is the thinking behind the current strategy of Nomura’s Europe, Middle East and Africa investment banking advisory team. It is energetically increasing revenues from fee-based activities, while targeting more young challenger businesses.
One driver of the new approach was the bank’s $2.9bn loss from the 2021 collapse of Archegos Capital Management, a US investment fund. Since then, chief executive Kentaro Okuda has been pushing for an increase in the bank’s relative proportion of risk-light products.
