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Japanese investment bank Nomura Holdings on Friday named Anurag Mahesh, formerly with Deutsche Bank, as coverage head of its international wealth management business for Southeast Asia, global South Asia, and the Middle East. Mahesh, who has three decades of wealth management and investment product experience, will start in the newly-created role later this year, subject to regulatory clearance, Nomura said in a statement. Mahesh, who was most recently vice-chairman of wealth management in Asia Pacific for Deutsche Bank, will be based in Singapore and report to Ravi Raju, Nomura's head of international wealth management, the bank added.
Nomura Group's digital asset subsidiary, Laser Digital Asset Management, has launched a Bitcoin fund targeting institutional investors. The Bitcoin Adoption Fund was unveiled on Tuesday, marking the first such digital asset investment product from the Japanese financial services giant's subsidiary.
Nomura Holdings plans to hire more than 40 private bankers in Asia and the Middle East in two years to tap an expanding pool of rich families and entrepreneurs in the regions, its international wealth management chief told Reuters. Enhancing wealth management is part of Nomura's goal of increasing revenue less vulnerable to market swings, as Japan's top investment bank has had occasional major financial hits in its attempts to expand globally. "The plan for us is to grow to about 135 relationship managers in the next two years, which will help us double our business," Ravi Raju, who heads Nomura's wealth management business ex-Japan, said in an interview.