Wednesday, 16th December 2009
In Business In Japan,
Japanese investment bank Nomura to acquire Tricorn Partners
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