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Nomura considers U.S. acquisitions to catch up



By Victoria Howley
28 October 2009 @ 11:22 am ET

LONDON - Nomura Holdings Inc is sub-scale in the United States and would consider acquisitions to catch up with rivals, one of the architects of its Lehman deal last year said on Wednesday.


Nomura considers U.S. acquisitions to catch up
A man walks out from a Nomura Securities branch at the business district in Tokyo April 23, 2009. Nomura Holdings Inc will likely book a record net loss of $7.2 billion for the last financial year, mainly due to costs related to buying Lehman Brothers' operations, a newspaper said. (Reuters Photo / Yuriko Nakao )
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"If something turns up in the U.S. that makes sense, I never rule anything out," said Sadeq Sayeed, Nomura's chief executive for Europe, the Middle East and Africa.

"I'm always looking for interesting opportunities, but we will be economically rigorous if we do such things," he told reporters on a conference call.

He added that the process of integrating Lehman's former European and Asian businesses was complete and that Nomura was already growing organically in the United States.

Japan's largest investment bank earlier in the day unveiled its biggest profit in nine quarters, coupled with $1.6 billion in trading gains, suggesting the Japanese broker's aggressive push into overseas bond and equity markets is paying off.

For the first time Nomura's international revenues were higher this quarter than domestic revenues, Sayeed said.

He added that Nomura had aimed for a 50-percent revenue contribution from its international operations by the middle of next year.

(Editing by Greg Mahlich)

Copyright 2009 Thomson Reuters. All rights reserved.

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