DOW JONES NEWSWIRES
Broker-dealer Nomura Securities International Inc. has been
named a primary dealer by the Federal Reserve Bank of New York as
parent Nomura Holdings Inc. (NMR) continues its push to grow in the
U.S.
Nomura bought parts of Lehman Brothers Holdings Inc. (LEHMQ)
after the Wall Street company filed for bankruptcy last September.
In April, Nomura posted one of the largest losses in Japanese
corporate history as it suffered from the turbulent financial
markets and the costs of absorbing parts of Lehman.
Primary dealers serve as counterparties in open-market
operations, participate directly in Treasury auctions, and provide
analysis and market information to trading desks at the New York
Fed.
"Building on our dominant Japanese franchise, we have achieved
tremendous business momentum in Europe and Asia Pacific. Obtaining
a primary dealership in the U.S. is consistent with our global
strategy," said Tarun Jotwani, head of global fixed income at
Nomura Holdings.
The company has been making a push in the U.S. equities business
as well, recently hiring former Bank of America Corp. (BAC)
official Ciaran O'Kelly.
Nomura's American depositary shares closed Monday at $8.67, up
3.2%, and were inactive after hours.
-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357;
Kathy.Shwiff@dowjones.com