Nomura Holdings and Philippine bank BDO Unibank, the country’s largest bank, have announced that their joint venture, BDO Nomura Securities, has officially commenced operations.
Offering online trading services for stocks listed on the Philippine Stock Exchange (PSE), BDO Nomura has been set up to provide investors in-depth market research, quick execution time and competitive rates. Additionally, the platform offers ease of use through simple and paperless online application and fund transfers through the customer’s BDO Deposit Accounts.
The joint venture with BDO is Nomura’s second retail operation in the region, following a successful one in Thailand, and is in line with Nomura’s strategy to develop local retail brokerage businesses in Southeast Asia. BDO owns 51 percent of the joint venture company, while Nomura holds 49 percent.
Philippines Richest
BDO is a full-service universal bank which provides a wide range of corporate and retail banking services and has one of the largest distribution networks, with more than 1,000 operating branches nationwide.
The bank is owned by retail and banking magnate Henry Sy, who according to Forbes is the richest man in the Philippines.
The securities dealer and broker with a seat in the PSE is headed by Koichi Katakawa.