Japanese investment bank Nomura has launched onshore equity sales and trading in India, leveraging the local assets of investment bank Lehman Brothers that it purchased in 2008. A new entity offering a range of investment banking services, Nomura India, will be staffed by both Nomura and former Lehman Brothers employees.
“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, I am confident that our footprint in India will significantly expand,” said Takumi Shibata, COO of Nomura Holdings, in a statement.
In October last year, Nomura 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. The firm also obtained Lehman’s merchant banking licence and memberships to India’s two bourses – the National Stock Exchange and the Bombay Stock Exchange – which have allowed it to launch the equity sales and trading business.
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