SINGAPORE (Reuters) - Japan's Nomura Holdings (NYSE:NMR) has appointed Sudhir Nemali as managing director and chief operating officer of its international wealth management business, according to an internal memo seen by Reuters on Friday.
Nemali, who has over three decades of wealth management experience, is joining from Deutsche Bank (ETR:DBKGn), where he was most recently the chief operating officer for wealth management and the private bank division of the Germany-based bank's Asia-Pacific, Middle East and Africa and Latin America regions, as well as a branch board member of Deutsche Bank of Singapore, the memo showed.
Nemali will be based in Singapore and report to Aleem Jivraj, Nomura's chief operating officer of global markets, and Ravi Raju, Nomura's head of international wealth management (IWM), according to the memo.
"IWM has grown dramatically over the past four years and as we embark on the next phase of our growth, Sudhir will work closely with the IWM management team and our corporate partners to drive all aspects of the buildout," Jivraj and Raju said in the memo.
"This will include developing the future strategy and business plans, and ensuring that our platform and processes can fully support our ambitions to become a leading player in wealth management in Asia," they added.
A Nomura spokesperson confirmed the contents of the memo.