People with direct knowledge of the matter told reporters that Nomura is evaluating a Swiss wealth-management presence, but requested anonymity because the information is confidential. The company is still assessing how large the Swiss operation could be and has not reached a final decision.
A Nomura spokesperson declined to comment on specifics, saying the company does not comment on "rumors or speculation."
If Nomura moves forward, it would compete with UBS Group AG and existing Swiss private-banking names like Julius Baer, Banque Lombard Odier & Cie SA, and Banque Pictet & Cie SA. Reporters noted that many foreign private banks either run wealth units in Switzerland or have been considering a return to the market.
Standard Chartered Plc said in May that it received permission to open an office in Geneva. Switzerland's main offshore-wealth centers are Zurich and Geneva, and periods of geopolitical turmoil have historically encouraged money flows into Switzerland because it is viewed as a safe haven.
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Ravi Raju is identified as Nomura's head of international wealth management and formerly led UBS's ultra-high-net-worth and global family-office business for Asia-Pacific.
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