Latest news with #ex-JPMorgan
Mint
30-05-2025
- Business
- Mint
Nomura Sees Big Opportunities to Grow in US Despite Turmoil
Nomura Holdings Inc. is setting its sights on the US for growth despite the current turmoil surrounding the world's biggest economy. Japan's largest brokerage said it's strengthening its focus on the Americas through 'strategic resource allocation,' according to an investor day presentation, which touted the 'big opportunities' there. The firm plans to advance targets for its investment management and wholesale banking businesses by pursuing long-term growth in the Americas, it said. 'Currently, market volatility is increasing due to global tariff negotiations, and the US can be said to be the epicenter of all this,' Chief Executive Officer Kentaro Okuda told investors on Friday. 'However, in our company's global strategy, the US is the most important area rich in business opportunities, and this will not change in the future.' Nomura is in expansion mode, having recently clinched a $1.8 billion deal to buy Macquarie Group Ltd.'s US and European public asset management business. The firm's optimism toward the US comes against wider sentiments that are more worried about President Donald Trump's trade policies overshadowing global growth prospects. In its presentation, the Tokyo-based firm also said it aims to boost revenue from trading and investment banking business by 15% to 20% in dollar terms by March 2031. It plans to expand in private credit, structured and solutions, equity trading in Europe and Asia, and international wealth management. Led by ex-JPMorgan Chase & Co. executive Christopher Willcox, this wholesale banking arm will seek to 'ramp up productivity' of bankers in advisory business as well as global markets sales and trading operations. The division accounts for about half of Nomura's overall net revenue. Meanwhile, Nomura also introduced a ¥50 billion pretax profit target for its newly created banking division for the year ending March 2031. Nomura earned a record net profit last fiscal year, joining Wall Street titans in benefiting from trading while enjoying a boom in dealmaking and retail investing in Japan. The firm posted a 72% increase in income before taxes to ¥472 billion in the year ended this March. At last year's investor day, the management unveiled a target to lift annual pretax profit to more than ¥500 billion by March 2031. It had also identified India and the Middle East as growth opportunities. This article was generated from an automated news agency feed without modifications to text.
Yahoo
30-05-2025
- Business
- Yahoo
Nomura Sees Big Opportunities to Grow in US Despite Turmoil
(Bloomberg) -- Nomura Holdings Inc. is setting its sights on the US for growth despite the current turmoil surrounding the world's biggest economy. NYC Congestion Toll Brings In $216 Million in First Four Months The Economic Benefits of Paying Workers to Move Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania NY Wins Order Against US Funding Freeze in Congestion Fight NY Congestion Pricing Is Likely to Stay Until Year End During Court Case Japan's largest brokerage said it's strengthening its focus on the Americas through 'strategic resource allocation,' according to an investor day presentation, which touted the 'big opportunities' there. The firm plans to advance targets for its investment management and wholesale banking businesses by pursuing long-term growth in the Americas, it said. 'Currently, market volatility is increasing due to global tariff negotiations, and the US can be said to be the epicenter of all this,' Chief Executive Officer Kentaro Okuda told investors on Friday. 'However, in our company's global strategy, the US is the most important area rich in business opportunities, and this will not change in the future.' Nomura is in expansion mode, having recently clinched a $1.8 billion deal to buy Macquarie Group Ltd.'s US and European public asset management business. The firm's optimism toward the US comes against wider sentiments that are more worried about President Donald Trump's trade policies overshadowing global growth prospects. In its presentation, the Tokyo-based firm also said it aims to boost revenue from trading and investment banking business by 15% to 20% in dollar terms by March 2031. It plans to expand in private credit, structured and solutions, equity trading in Europe and Asia, and international wealth management. Led by ex-JPMorgan Chase & Co. executive Christopher Willcox, this wholesale banking arm will seek to 'ramp up productivity' of bankers in advisory business as well as global markets sales and trading operations. The division accounts for about half of Nomura's overall net revenue. Meanwhile, Nomura also introduced a ¥50 billion ($348 million) pretax profit target for its newly created banking division for the year ending March 2031. Nomura earned a record net profit last fiscal year, joining Wall Street titans in benefiting from trading while enjoying a boom in dealmaking and retail investing in Japan. The firm posted a 72% increase in income before taxes to ¥472 billion in the year ended this March. At last year's investor day, the management unveiled a target to lift annual pretax profit to more than ¥500 billion by March 2031. It had also identified India and the Middle East as growth opportunities. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol ©2025 Bloomberg L.P.
Yahoo
13-03-2025
- Business
- Yahoo
Ex-JP Morgan Exec Admits to Having Sex With One of Epstein's Staffers
Former Barclays CEO and ex-JP Morgan executive Jes Staley admitted in court Wednesday that he had sex with one of Jeffrey Epstein's staff members at a New York apartment owned by the child sex offender's brother. The banker is attempting to appeal a ban proposed by Britain's Financial Conduct Authority (FCA) which would bar him from assuming any senior roles in the United Kingdom's financial sector and see him fined for over $2 million, according to Reuters. The FCA alleges that Staley obscured the depth of his relationship with Epstein, citing a 2019 letter sent to them by Barclays which said that the two 'did not have a close relationship.' Epstein was a client of Staley's during his long tenure at JPMorgan Chase & Co before he left in 2013. As part of the appeal, Staley is presenting evidence at London's Upper Tribunal this week, where he made the admission of the sexual encounter Wednesday. Staley claimed that he had only visited the apartment once, according to Bloomberg, and got to know the woman while waiting for Epstein to show up for one of their meetings. He said the relationship was consensual and that he didn't believe Epstein was aware of it. The former Barclays boss has long maintained that he had no knowledge of Epstein's alleged sexual misconduct, which includes federal charges for sex trafficking minors. The FCA in turn has claimed that it's not trying to bring whether or not Staley knew of Epstein's alleged activities into court, but rather that the two had a relationship that went 'beyond one that was professional in nature,' Bloomberg notes. The financial watchdog also included a handful of email exchanges between Staley and Epstein as part of their evidence. In one July 2010 exchange, Staley reportedly wrote to Epstein: 'That was fun. Say hi to Snow White.' 'What character would you like next?' Epstein replied. 'Beauty and the Beast,' Staley wrote back to which Epstein said, 'Well one side is available.' 'They are strange emails and I don't recall them,' Staley said of the exchange Wednesday.
