Nomura to shut branch in China as it scales back wealth business

Nomura to shut down Zhejiang office by end of year

Nomura Holdings has reportedly decided to close its office in the Chinese province of Zhejiang by the end of the year. The Zhejiang office is one of the Tokyo-based securities firm’s four branches in China. The firm is scaling back its wealth management operations in mainland China after years of financial losses, reported Bloomberg citing sources. A Tokyo-based spokeswoman for Nomura declined to comment. The Zhejiang branch was launched in late…

Nomura to Close China Branch Four Years After Opening

Japan’s Nomura is reportedly closing one of its four branches in mainland China only a few years after its opening. Nomura will close its branch in the eastern Chinese province of Zhejiang by the end of 2025, according to a «Bloomberg» report citing unnamed sources, after first opening in late 2021. This is one of the Japanese bank's four branches in mainland China, alongside Shanghai, Beijing and Shenzhen. The report also highlighted a retreat …

Nomura to shut branch in China as it scales back wealth business

Nomura Holdings is closing one of its four branches in China, as the Japanese securities firm scales back its wealth management business in the mainland after years of losses.