Daiwa Securities Group doubled compensation for its top executives last fiscal year and Nomura resumed paying cash bonuses as profit surged amid a market rally driven by Japan’s economic stimulus policies.
Daiwa Securities has boosted the bonus pool for its investment bankers and staff to the most in three years after posting its highest profit since 2006.
Nomura and Daiwa Securities Group have hired the most university graduates in four years, leading a resurgence in recruitment by Japanese brokerages as the economic outlook improves.
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Daiwa Securities has won the mandate to lead Japan’s biggest share sale this year, benefiting from an insider-trading scandal that prompted regulators to punish larger rival Nomura.
Nomura was dropped as a lead underwriter for state-owned Development Bank of Japan Inc.’s bond sale this month because of its involvement in leaking insider information.
Bloomberg ran an interesting interview with Lazard Vice Chairman Gary Parr last week in which Parr predicts consolidation in banking, with the industry reshaped in the hands of 5 - 8 truly global providers of capital.
Another day, another firm wielding the job axe. And pay cuts and industry consolidation too.
The Financial Times reports that HSBC looks set for a 'radical shake-up' which will result in 'slashing costs and reallocating capital in an effort to boost profitability and also resuscitate its flagging US operation'.
As one of the leading, comprehensive financial service firms in Asia, Daiwa Securities Group operates core businesses such as retail and wholesale securities, asset management, investment, as well as system support and research services.
Daiwa Securities Group doubled compensation for its top executives last fiscal year and Nomura resumed paying cash bonuses as profit surged amid a market rally driven by Japan’s economic stimulus policies.
Daiwa Securities has boosted the bonus pool for its investment bankers and staff to the most in three years after posting its highest profit since 2006.
