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Nomura to Acquire ING Asset Management Business in Taiwan

Nomura Asset Management Co., Ltd., a wholly owned subsidiary of Nomura Holdings, Inc., today announced that it has agreed to acquire ING Group’s interest in ING Securities Investment and Trust Company Limited, Taiwan, the local asset management unit of ING Group...

Nomura Asset Management is partnering with an investment group led by Ashwin Mehta, former Chief Executive Officer of ING Securities Investment and Trust Company Limited, Taiwan. The transaction is subject to regulatory approval.

Commenting on the announcement, Mr. Toshihiro Iwasaki, CEO of Nomura Asset Management, said: “This acquisition is part of our ongoing expansion in Asia and represents a very important opportunity for us to enter the Taiwanese market, one of the leading mutual fund markets in Asia.
ING Securities Investment and Trust Company Limited, Taiwan has an outstanding marketing team and investment management platform that has been built up over many years. By leveraging the firm’s existing capabilities, we aim to enhance our presence in the local market while continuing to build out our investment management business in Asia.”

Next Finance , January 2014

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