Following its purchase of failed investment bank Lehman Brothers’ entire Asia-Pacific franchise yesterday, Japanese financial services firm Nomura has now snapped up Lehman’s European equities and investment banking businesses for an undisclosed sum. The deal does not include any trading assets or liabilities.
The latest acquisition includes the investment banking and equities businesses of the Lehman's offices in the Netherlands, Qatar, Dubai, Kuwait, the UK, Spain, Italy, Germany and Sweden. Nomura believes the buy will provide it with a leading equities and investment banking platform in Europe and further its strategy of connecting Asia and Europe.
The Japanese firm expects to retain a “significant proportion” of the 2,500 staff employed by Lehman’s equities and investment banking operations in Europe and the Middle East.
“In the past 24 hours Nomura has executed two transformational deals,” said Kenichi Watanabe, Nomura’s CEO, in a statement. “This transaction will significantly extend our European footprint and international reach, enabling us to realise our strategy of delivering Asia to the world. Our immediate priority is to get the equity and investment banking divisions back in business operating under the Nomura name.”