On 29 November, global financial services group Nomura Holdings, Inc. announced that its Retail division will be renamed the Wealth Management Division, effective 1 April next year.
Nomura said the retail division has been continuously improving its business model and restructuring its organisation and product strategy to further help clients manage their assets. The division has seen significant changes in its revenue and has delivered solid results. Changing the division's name reflects the transformation for its business model.
Founded in 1925, Nomura provides financial services to individuals, institutions, corporations and governments in about 30 countries around the world.
Last week, Nomura appointed Ruchir Sharma as Global Head of FX Options Trading.