This November Nomura beat numerous rivals, believed to have included many of the biggest names on the street, for control of Instinet, the pioneering electronic agency brokerage.
Although the terms of the deal were not disclosed, there is widespread speculation that the Japanese investment bank might have paid almost $1.2 billion.
The deal plugs a significant gap in Nomura’s business. “Execution is an increasingly important factor in our business,” says Naoyuki Oguri, deputy managing director of global markets planning at Nomura in Tokyo.
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