Nomura targets 20% revenue growth from global markets business

The unit’s revenue rose 8% to 707.1 billion yen last year. — Bloomberg

TOKYO: Nomura Holdings Inc is targeting 20% revenue gains for its global markets unit over the next few years as the Japanese brokerage moves past the Archegos Capital Management scandal with new initiatives to spur growth, according to the business head.

Macro, credit and securitised products and equities will each contribute 25% to 30% of the growth, with the remaining 15% coming from wealth management, Rig Karkhanis, who was made head of global markets a year ago, said in an interview in London.