Nomura announced it is to establish an Asia Infrastructure Project Office, as it drives expansion for its Asian platform.
The Asia Infrastructure Project Office is to be based in Singapore, and will focus on “demand for funds to finance infrastructure projects in Asia”.
Its team will work as an “intermediary and network hub between Southeast Asia and Japan.”
Mitsutoshi Murakata, head of the infrastructure project in Asia said Nomura hopes this will “add value to their business through investment in infrastructure projects.”
He added the Japanese bank’s long-term strategy is focused on its growth in Asia, and is looking to “help facilitate the development of the region by connecting markets east and west as Asia’s global investment bank.”
Nomura Holdings recently outlined a cost-cutting strategy set to put hundreds of jobs at risk across Europe and the US, following its first quarterly loss since 2011.
The plans included combining its global markets and investment banking division in Europe to “control costs”, and “refine” its wholesale offerings in Europe and the US.
Nomura has since been focusing on expansion in Asia.
The Asia Infrastructure Project Office is set to launch in August this year.