Nomura launches wealth management business in Dubai

Nomura launches wealth management business in Dubai

Nomura, a global financial services group, has expanded its International Wealth Management business with new premises in Dubai International Financial Centre (DIFC). Nomura announced last year that it would open a branch of Nomura Singapore Limited in DIFC to expand its client franchise and increase the footprint of its relationship managers. It has since obtained a Category 4 licence from the Dubai Financial Services Authority (DFSA), the independent regulator of financial services conducted in or from DIFC. The move marks Nomura's commitment to expanding its presence in the region by catering to the growing demand for high-quality wealth management services and comprehensive financial solutions from its clients in the MEASA market. The announcement also reinforces DIFC’s commitment to provide a conducive environment for businesses in the region, to further drive economic growth. Serving HNWIs The firm’s International Wealth Management arm will primarily serve high-net-worth individuals (HNWIs), single family offices, and external asset managers in the UAE and broader Middle East region, including the Gulf Cooperation Council (GCC), North Africa and Levant countries. Nomura International Wealth Management joins a DIFC ecosystem of over 300 wealth and asset management firms that comprise a $500 billion asset management market in terms of AUM.