Nomura, a Japanese investment bank, has announced that it will be setting up a permanent branch in Cape Town, South Africa, with the new offices scheduled to open on 4 April. Nomura has also appointed Jan Newman and Ben Lowther, previously of Newman Lowther & Associates, to lead the South African team.
According to a statement by the company, Nomura's Cape Town branch will concentrate on providing a tailored range of investment banking and risk solution services to support its current and new clients in the region.
Jonathan Lewis (pictured), Nomura's head of Europe, Middle East and Africa, said:
"South Africa is a key economic hub on the African continent and global investors and corporates are increasing investment in the region. The establishment of Nomura SA led by Jan and Ben will expand our global footprint and in-country capabilities in investment banking, and enable us to provide our clients with direct access to and insights on growth opportunities in sub-Saharan Africa."
Nomura has a solid track record of M&A and advisory activity in South Africa. The bank advised and financed PE firm Brait on its 2015 acquisition of UK fashion retailer, New Look. It also acted as financial adviser to Coca-Cola Sabco on the proposed creation of CocaCola Beverages Africa, announced in 2014.