Nomura And Allshores Launch New Name Of Asset Management Joint Venture In Taiwan
Nomura Asset Management Co., Ltd., a wholly owned subsidiary of Nomura Holdings, Inc., and Allshores Group on 6 November celebrated the renaming and rebranding of their joint venture, Nomura Asset Management Taiwan Limited (Nomura SITE), in Taiwan, which was announced on October 16, 2014.
Ashwin Mehta, Chairman of Nomura SITE, said: “For the past 16 years, Nomura SITE has endeavored to serve our Taiwanese clients by creating and sourcing a range of funds and investment solutions tailored to their specific needs. The company has been fully committed to the attractive Taiwan market and has established a comprehensive platform encompassing both onshore and offshore funds. With an employee base of close to 250, including a high quality multinational investment team and a well-recognized professional sales team, Nomura SITE today ranks among the top ten fund houses in terms of total AUM.
“Although we have a new name, our local team, professionalism and enthusiasm are the same. We will continue to provide a high standard of investment management services in the future and we sincerely hope to have the continued support of our clients. Moreover, our new shareholders bring an array of strengths including global investment capabilities, strong track record in the life insurance and retirement space and relationships with international advisors, all of which the company will leverage to improve our product and service offering.”
Kunio Watanabe, President and CEO of Nomura Asset Management, said: “Nomura’s strategy has been to grow from Japan to become a truly global financial services company which is uniquely positioned to connect markets east and west. Nomura Asset Management today is the largest mutual fund corporation in Japan with a global presence spanning Asia, Europe and the Americas.
“We have always considered Taiwan to be a key market and Nomura has had a presence here for more than two decades through our brokerage business. By enhancing our asset management business through this partnership with Allshores we are realizing a crucial step of our global strategy. Additionally, the renaming and rebranding enables Nomura SITE to develop its products and services for clients in Taiwan, backed by the global strengths of Nomura Asset Management.”
“Allshores is excited to partner with Nomura to make Nomura SITE a leading asset management company in Taiwan. We are committed to leveraging our experience of financial services in the Asia-Pacific region to help the company develop new product concepts and distribution ideas,” said Peter Smyth, a spokesperson for Allshores Group.