Nomura has
strengthened its rates trading capabilities in Europe, the Middle East, and
Africa (EMEA) by appointing Hemish Shah as the new Head of EMEA Flow
Rates.
Shah brings
over 15 years of experience in the rates market, previously serving as
the Head of EGBs, Bond Derivatives, and Euro Inflation Trading at Deutsche
Bank.
Shah will spearhead the growth and development of the firm’s EMEA Flow Rates business in his new role at Nomura. He will work closely with clients to provide value-added content and consistent liquidity provision and develop trading and risk management strategies.
“Hemish’s
extensive knowledge of EMEA rates products and clients, combined with his
experience in developing trading and risk management strategies, will help us
meet our strategic goals and further strengthen our regional franchise,” said Richard Volpe, Global Head of Rates at Nomura.
Shah will
report to both Volpe and Nat Tyce, Head of Global Markets EMEA, as Nomura
continues to bolster its rates trading capabilities in the region.
For Nomura,
it is another expansion move after the company announced last week that it
opened a new subsidiary to integrate its public and private credit offerings
for institutional clients in the Americas.
Nomura Surpasses Financial
Forecasts
In the third quarter of the fiscal year, concluding in March 2024, Nomura Holdings witnessed a performance uplift. The firm recorded a surge in its net revenue,
amassing 400.2 billion yen ($2.8 billion), coupled with a significant 39%
increase in pre-tax income from the preceding quarter, which stood at 78.7
billion yen ($558 million). Despite this upward trend, the firm experienced a
6% annual dip in pre-tax income, highlighting the fluctuating nature of the
present financial landscape.
Nomura’s
total net revenue for this quarter reached 400.2 billion yen ($2.8 billion),
representing a 9% rise from the previous quarter and a modest 2% year-over-year
growth. Similarly, pre-tax income saw a substantial 39% quarter-over-quarter
boost, totaling 78.7 billion yen ($558 million), albeit with a 6% decrease on a
yearly basis.
Nonetheless,
the net income attributable to Nomura’s shareholders increased significantly by 43% from the previous quarter, amounting to 50.5 billion yen ($358
million).
These
figures not only underscore Nomura’s resilient performance but also align with
the firm’s previously disclosed projections, highlighting a 118% pre-tax profit
increase for the six months ending September 30, 2023, driven by diversified
revenue streams and a record-setting second quarter in FY24 for assets and
retail trading.
Nomura has
strengthened its rates trading capabilities in Europe, the Middle East, and
Africa (EMEA) by appointing Hemish Shah as the new Head of EMEA Flow
Rates.
Shah brings
over 15 years of experience in the rates market, previously serving as
the Head of EGBs, Bond Derivatives, and Euro Inflation Trading at Deutsche
Bank.
Shah will spearhead the growth and development of the firm’s EMEA Flow Rates business in his new role at Nomura. He will work closely with clients to provide value-added content and consistent liquidity provision and develop trading and risk management strategies.
“Hemish’s
extensive knowledge of EMEA rates products and clients, combined with his
experience in developing trading and risk management strategies, will help us
meet our strategic goals and further strengthen our regional franchise,” said Richard Volpe, Global Head of Rates at Nomura.
Shah will
report to both Volpe and Nat Tyce, Head of Global Markets EMEA, as Nomura
continues to bolster its rates trading capabilities in the region.
For Nomura,
it is another expansion move after the company announced last week that it
opened a new subsidiary to integrate its public and private credit offerings
for institutional clients in the Americas.
Nomura Surpasses Financial
Forecasts
In the third quarter of the fiscal year, concluding in March 2024, Nomura Holdings witnessed a performance uplift. The firm recorded a surge in its net revenue,
amassing 400.2 billion yen ($2.8 billion), coupled with a significant 39%
increase in pre-tax income from the preceding quarter, which stood at 78.7
billion yen ($558 million). Despite this upward trend, the firm experienced a
6% annual dip in pre-tax income, highlighting the fluctuating nature of the
present financial landscape.
Nomura’s
total net revenue for this quarter reached 400.2 billion yen ($2.8 billion),
representing a 9% rise from the previous quarter and a modest 2% year-over-year
growth. Similarly, pre-tax income saw a substantial 39% quarter-over-quarter
boost, totaling 78.7 billion yen ($558 million), albeit with a 6% decrease on a
yearly basis.
Nonetheless,
the net income attributable to Nomura’s shareholders increased significantly by 43% from the previous quarter, amounting to 50.5 billion yen ($358
million).
These
figures not only underscore Nomura’s resilient performance but also align with
the firm’s previously disclosed projections, highlighting a 118% pre-tax profit
increase for the six months ending September 30, 2023, driven by diversified
revenue streams and a record-setting second quarter in FY24 for assets and
retail trading.
