Nomura picks Frankfurt to replace London as its post-Brexit EU HQ
Tokyo — Nomura Holdings has picked Frankfurt as the headquarters for its European Union operations after the UK leaves the bloc, people with knowledge of the matter have said. Japan’s biggest brokerage will start preparations this month to form a base in the German financial centre, one of the people said, asking not to be identified as the matter is confidential. It will seek regulatory approval and find office space before transferring fewer than 100 employees from London to the city, according to the person. Nomura, which had 3,026 employees in Europe as of March 31, had been considering cities including Munich, Luxembourg and Paris to secure business in the EU after Brexit. Frankfurt, home to the European Central Bank, has emerged as one of the favoured options for global banks including Morgan Stanley, Goldman Sachs and Citigroup. Kenji Yamashita, a spokesman for Nomura in Tokyo, declined to comment. The Tokyo-based securities firm has enjoyed an earnings revival in Europe rece...
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