InsideJapan News Network

Japanese investment bank Nomura is set to buy London-based corporate finance advisory firm Tricorn Partners for an undisclosed acquisition price.

Nomura - which leads the securities market in Japan - will be joined by Justin Dowley and Guy Dawson, who have run Tricorn for seven years after leaving Merrill Lynch.

They will both join as vice-chairmen of Europe, Middle East and Africa investment banking.

News of the acquisition reached the financial markets after the release of a memo.

Since Nomura acquired the Lehman Brothers European and Middle East businesses, it has been intent on expanding into European equities and fixed-income trading.

The investment bank was the first securities company from Japan to establish an overseas office, which was set up in 1927.

It operates services from four main centres: Hong Kong, New York, London and Japan.

Reuters reported that Mr Dawson and Mr Dowley are to be joined by Andrew McNaught - who will join as a managing director in mergers and acquisitions - and founding partner Michael Pescod.

Written by Mark Smith