The deal involves Tokyo-based Nomura’s taking over Lehman’s Asian franchises and roughly 3,000 employees in such Pacific-region countries as Japan and Australia.
“This is a once-in-a-generation opportunity, and we are delighted to be able to partner with Lehman Brothers' talented people to create one of the biggest independent global financial institutions that provides world-class investment-banking services to clients across the globe,” Kenichi Watanabe, Nomura's president and chief executive, said in a statement.
“We are honored to work with Nomura in building a platform which we believe offers tremendous potential, Jesse Bhattal, chief executive of Lehman Brothers Asia Ltd. of Hong Kong, said in a statement.
Nomura, which is Japan’s largest brokerage firm, is also eyeing parts of Lehman's European operations along with Barclays PLC, according to published reports.
Last week London-based Barclays agreed to acquire the former Wall Street giant’s North American investment-banking division for a fire sale price of $1.75 billion (InvestmentNews, Sept. 16).
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