Nomura receives Saudi Arabian securities business licence

The licence will enable Nomura to conduct capital markets, corporate finance and wealth management activities, as well as deal as an agent for overseas securities. This is the first time an Asian securities firm has been authorized in the Kingdom of Saudi Arabia.

"We are honored and delighted the Capital Market Authority has granted us a licence to operate in Saudi Arabia," said Yugo Ishida, CEO of Nomura Europe and Middle East. "We believe strongly in the continuing success of the region's largest economy and its rapidly-growing financial sector. Nomura Saudi Arabia will represent a keystone in our international strategy."

"Asia and the Middle East have enormous complementary interests which are only now beginning to emerge," said Mr Ishida. "Nomura, as the leading Asian-based investment bank, has a unique advantage in the region because we will act as a bridge from Asia to the Middle East, and from the Middle East to Asia and beyond. We will work locally to mobilize capital within the region, as well as offer distinctive Saudi opportunities to our international investor base."

The creation of the Saudi Arabian securities firm is a natural progression for Nomura's long-established Middle East business. The group has had a presence in the region since 1974, and a regional headquarters in Bahrain since 1980. Nomura has numerous long-standing client relationships with Saudi government bodies, financial institutions, corporates and private investors. Initially, the Saudi Arabian business will focus on corporate finance advisory and capital markets activities.

Nomura's push into Saudi Arabia will be led by Anais Faraj and Javed Hussain, the company's top investment bankers in the region. They report to Takuya Furuya, president of Nomura Saudi Arabia and Nomura Investment Banking (Middle East).