Nomura Holdings creates a new wealth management division within its retail business.

Nomura Holdings, the Japan-headquartered financial services group, has strengthened its wealth management offering in the Asia including Japan area with the creation of a new dedicated division.

A new wealth management business arm will be established within the retail division, integrating the current Japan wealth management group with the Asia wealth management business, said the firm in a statement. 

The new entity will be overseen by Juntaro Kimuro, currently the head of financial management and wealth management at Nomura securities in Japan. For this new role, he will be appointed senior managing director and head of wealth management at Nomura Holdings. All will take effect on 1 July 2014. 

"This new structure underscores our commitment to Asia and positions us to further expand our wealth management business in the region. We aim to further enhance our corporate value and deliver higher returns for all stakeholders," said Atsushi Yoshikawa, Nomura Group chief operating officer. 

Nomura operates in over 30 countries and has three main business divisions: retail, asset management and wholesale. This latest growth strategy complements moves to expand its operations across wider markets in the past months. Just in May 2014, the company opened an office at the Shanghai Pilot Free Trade Zone through a joint venture with three local investment firms.