Business is good for Nomura. The Financial Times reports that Japan’s largest investment bank expects to return to full-year profitability in the year to March for the first time in three years, largely on the back of strong demand for fundraising in Japan.
Now the bank has reportedly earmarked $2.5bn for expansion in the U.S., and in December said that it would be hiring an additional 300 U.S. staff by March to bring its total headcount there to 1,600.
But what are the chances of Nomura targeting similar growth on home soil?
“I haven’t heard of anything as significant as those numbers, but it would be unlikely for Nomura to announce any major hiring until after their financial year ends here in March,” says one Tokyo-based recruiter, who wished to remain anonymous. Nomura, however, are hiring.
“The volumes aren’t very high-again mainly because they are coming near the end of their financial year-but they are doing some replacement hiring and some expansion hiring. And the expectation is that they will look to hire more going forward,” the recruiter says.
A second anonymous recruiter, who has worked with Nomura for several years, says part of that recruitment is because Nomura has had to backfill some of the key long-term Japanese managers they transferred to other Asian centres to supervise business operations there.
“In addition, they repatriated a lot of the non-Japanese ex-Lehman staff to Hong Kong and Singapore and then rehired them under more company-favourable terms. Once business came back, this created somewhat of a shortage in certain job areas in the Japan business where foreign talent is necessary,” the second recruiter says.