Nomura's Strategic Alliance: A New Era in Wealth Management

In the ever-evolving landscape of global finance, strategic alliances often mark the beginning of new eras. The recent partnership between Nomura Securities, a wholly-owned subsidiary of Nomura Holdings, and Hyakujushi Bank Ltd. is one such alliance that promises to reshape the wealth management sector, particularly in the Asia-Pacific region. This move is not just a business decision; it is a calculated shift that reflects Nomura's ambition to recalibrate its international wealth strategy, moving away from its traditional strengths in institutional brokerage, investment banking, and global markets to include a more comprehensive wealth management platform.



The alliance, announced on March 17, 2025, by Reuters, is a strategic move that leverages Hyakujushi Bank's local market expertise and client base. This partnership is part of Nomura's broader strategy to evolve its wealth management business, which has seen significant growth in the past four years under the leadership of Ravi Raju, Head of International Wealth Management in Singapore. Raju's arrival in September 2020 marked the start of a transformative journey for Nomura, which has grown its assets under management (AUM) to more than USD28 billion.

The integration of wealth management into Nomura's wholesale franchise, including global markets and investment banking, sets the business on a new and dynamic path. This move aligns with Nomura's ambition to recalibrate its international wealth strategy, reflecting a calculated shift from its heritage to include a modern wealth management platform outside Japan and focused on Asia-Pacific’s ultra-high-net-worth (UHNW) elite.

The alliance with Hyakujushi Bank is a strategic move to cater to Asia-Pacific's UHNW elite, particularly the entrepreneurial elements that require corporate finance and investment banking expertise. As Raju noted, "The concept was to build on our history, to align with our great strengths as an institution with our market-leading investment banking and global markets franchises." This organic approach leverages Nomura's existing strengths to enhance its international wealth management initiative, creating a direct distribution model with cross-fertilisation potential and clear synergies.

The partnership also supports Nomura's five-year roadmap to establish a robust wealth management platform tailored to the unique regional regulatory, compliance, and client relationship requirements of UHNW clients in Asia-Pacific. This platform aims to deliver a holistic, solutions-driven approach, addressing the broadest range of needs of Asia-Pacific's ultra-wealthy entrepreneurs. As Raju explained, "The plan from the outset was to establish Nomura as a primary wealth management provider for Asia-Pacific’s ultra-wealthy entrepreneurs, delivering a holistic, solutions-driven approach."

The alliance brings several specific synergies and competitive advantages to Nomura's wealth management platform. These include leveraging Nomura's extensive investment banking and global markets expertise, enhancing personalized financial solutions through technology, and strengthening Nomura's presence in the Asia-Pacific region, particularly in China. Toshiyasu Iiyama, executive managing director of Nomura Holdings Inc and chairman of Nomura's China Committee, highlights the strategic importance of China's financial markets. He states, "The consistent opening of China's financial markets has consolidated the strategies of international financial institutions in expanding their footprint in the country, serving domestic clients and integrating local businesses into the global market."

The transformation influenced by this alliance is likely to enhance Nomura's market position in several ways. By focusing on Asia-Pacific's UHNW elite, Nomura can tap into a market segment that represents trillions of dollars of business and personal wealth. This strategic shift allows Nomura to expand its market reach and attract high-value clients. The integration of wealth management with global markets and investment banking provides Nomura with a competitive advantage, as it can offer a more comprehensive suite of services than traditional brokerage firms. This holistic approach is likely to attract clients seeking a one-stop solution for their financial needs.

The alliance reflects Nomura's commitment to innovation and adaptability, as it continues to evolve its wealth management strategy to meet the changing needs of the marketplace. This adaptability is crucial for maintaining a strong market position in a dynamic industry. The transformation has also involved attracting and retaining skilled professionals, such as Ravi Raju and Akshay Prasad, who bring strategic vision and innovation to the firm. This focus on talent and expertise is essential for delivering exceptional wealth management services and maintaining a competitive edge.

In conclusion, the alliance between Hyakujushi Bank Ltd and Nomura Securities is a pivotal move that aligns with Nomura's broader wealth management strategy. It leverages local expertise, integrates wealth management with investment banking and global markets, and focuses on the unique needs of Asia-Pacific's UHNW clients, thereby expanding Nomura's presence and influence in the region. This strategic alliance is not just a business decision; it is a calculated shift that reflects Nomura's ambition to recalibrate its international wealth strategy, moving away from its traditional strengths to include a more comprehensive wealth management platform. The alliance is a testament to Nomura's commitment to innovation and adaptability, as it continues to evolve its wealth management strategy to meet the changing needs of the marketplace.