(Bloomberg) -- Nomura Holdings Inc. unveiled plans to almost double profit by the end of the decade, in part by making its key wholesale division finance its...
-- Nomura Holdings Inc . unveiled plans to almost double profit by the end of the decade, in part by making its key wholesale division finance its own operations and shifting resources to areas where it wants to grow.China to Start $138 Billion Bond Sale on Friday to Boost Economy
In a separate presentation, Willcox outlined a target to cut the wholesale arm’s cost-to-income ratio to 80% by March 2031 from the current 94%. The division will increase the proportion of “risk-light, low-volatility businesses,” he said.International wealth management, which had a “break-out” year, is aiming for more than $35 billion in assets under management in the medium term and $60 billion in the long term, Willcox said.
“We are positioning this year as an important one to achieve even better results,” Okuda said, adding that ROE of 8% is achievable. “At the same time, it is exactly at times like these that we must launch new initiatives to create a foundation for future sources of income. We can’t stand still.”
Bloomberg Christopher Willcox Investment Management Wholesale Business Nomura Holdings Inc Wholesale Division Presentation
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