Japan-based investment bank Nomura has bolstered its Thai equity research presence by assembling a new team in conjunction with Bangkok-based Capital Nomura Securities (CNS).
Thailand is the latest in a string of Southeast Asian countries Nomura has launched equity research coverage in, with Malaysia added in 2009 and Indonesia in 2010.
The bank’s equity research coverage now spans 1,345 Asian stocks including 158 from Southeast Asia.
As part of the move, Nithi Wanikpun has joined CNS from BNP Paribas and will be responsible for managing the new team and developing Nomura’s Thai equity strategy and energy sector research.
Other members of the team will focus on banks, property, agri-food, small-caps, telecommunications and macroeconomics.
“Over the years, we have been consistently building up Nomura’s equity research franchise across the region and the launch of the equity research coverage in Thailand reflects our commitment to further broaden the scope of our research product for our clients,” Jit Soon Lim, Nomura’s head of equity research, Southeast Asia, said.
Despite their strong equity research presence, Nomura has lagged behind other investment banks in Asia, ranking 21 for mergers and acquisitions in Southeast Asia and 24 in equity capital markets until June this year, according to Thomson Reuters data.
Nomura revamped its global equity research team this year, appointing Wendy Lui as managing director and head of China equity research in May, and promoting Michael Kurtz to global head of equity strategy and Inigo Fraser-Jenkins to global head of quantitative strategy in March.