Nomura ups USstaff count amid cash call
JAPANESE bank Nomura is boosting its presence in the US by doubling its headcount, as it prepares to raise 433bn yen (£3bn) in its second cash call of the year.
The fast-growing investment bank, which bought the European and Asian units of failed US bank Lehman Brothers last year, is now turning its attention to the US.
It is planning to almost double its headcount there to 1,200 by the end of March.
Nomura has already been on a hiring spree in the US, recruiting around 300 employees so far.
The bank, which is trying to capitalise on the financial crisis and the weakness of some of its competitors, also announced details of its fundraising yesterday.
It said it would sell 800m shares at 568 yen each, a 4.1 per cent discount to its closing share price of 592 yen on the Tokyo Stock Exchange yesterday.
This is the second time this year that the bank has gone cap in hand to the markets, and follows a 270bn yen fundraising in March.
Bank chief executive officer Kenichi Watanabe said it will sell around 400m shares to overseas investors and 366m in Japan. A further 34m will be used to satisfy any excess demand.
Citigroup Global Markets Japan is to underwrite the share issue, alongside Japanese firms Mizuho Securities and Mitsubishi UFJ Securities, and US investment bank JPMorgan Chase.