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Nomura plans prime broking to take on rivals

Reuters India – Nomura Holdings plans to launch a global prime brokerage business by September as the financial crisis creates room for new players to offer lucrative services to hedge funds, a senior executive said on Monday.

The move shows how Japan’s biggest investment bank, which scooped the European, Middle Eastern and Asian units of bankrupt Lehman Brothers, is muscling into an industry once dominated by Goldman Sachs and Morgan Stanley.


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