Nomura Holdings has appointed Simon Yates as global head of equities at Nomura Securities International (NSI), based in New York.
Yates has more than 30 years of experience in the financial services industry. He has been with Nomura since 2021, most recently serving as global head of equity trading and international head of equities at NSI.
Prior to this, Yates has held the role of global head of equity derivatives at both Citi and Credit Suisse.
During his time at the latter, he was also co-head of EMEA equities.
Last year, Japan’s biggest brokerage said it was seeking new revenue streams as rising global interest rates and market volatility had put a damper on key pillars of Nomura’s business, from brokerage fees to stock underwriting.
In a presentation, the firm said it plans to replicate its success in the Americas to build out the equities business in other regions, while accessing new fee pools in advisory and international wealth management, according to a presentation.
At the same time, the firm will review some administration costs and its location strategy for the wholesale business, according to the document.
“We need to raise revenue from equities, advisory and wealth businesses in order to boost returns from our overall portfolio as well as build a durable platform against the external environment,” said Nomura’s CEO Kentaro Okuda.
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