LONDON - Japanese bank Nomura is to buy London-based corporate finance advisory firm Tricorn Partners, according to a memo, strengthening its foothold in the lucrative corporate broking business.
Guy Dawson and Justin Dowley, who have run Tricorn since leaving Merrill Lynch seven years ago, will join Nomura as vice-chairmen of Europe, Middle East and Africa investment banking, the memo seen by Reuters said.
They are taking with them a team that includes founding partner Michael Pescod, who will be an advisor for Nomura, and Andrew McNaught, who will join as a managing director in mergers and acquisitions.
Nomura is corporate broker to eight British companies including Invensys, a provider of technology systems, the London Stock Exchange and Tesco.
Over the course of this year, the bank has advised miner Anglo American and Stagecoach and has worked with private equity firm Charterhouse in its acquisition of energy research firm Wood Mackenzie.
The acquisition price of the Tricorn deal was not been disclosed.
(Editing by Gary Hill; Editing by Hans Peters)