Japan’s SMBC Nikko Gets New York Investment Banking Team

According to Reuters news reports, Japan’s SMBC Nikko Securities, a unit of bank Sumitomo Mitsui Financial Group kicking off a niche investment banking team in New York. SMBC Nikko President and Chief Executive Yoshihiko Shimizu confirmed in an exclusive interview with Reuters.

“We’re going ahead in the industries where we’re strong, where we’ve got a strong entrance ticket,” said Shimizu, referring to sectors including pharmaceuticals, raw materials and technology. “We’d be foolish if we didn’t use those links.”

The team is expected to grow to around 10 members by March 2017.  In Japan, SMBC Nikko ranks third behind rivals Nomura and Daiwa Securities Group. Between March-December last year it managed 44.6 trillion yen of assets. Read the complete report at Reuters website.