Daiwa Capital to sell prime brokerage unit to Bank of Nova Scotia
Daiwa Capital Markets Europe (DCME), the wholly owned subsidiary of Daiwa Securities Capital Markets, has agreed to sell its synthetic prime brokerage to Bank of Nova Scotia.
The business has about 40 staff, the majority of which are based in London and it also has desks in Hong Kong and New York.
DCME expects the transfer to have no major impact on its business results.
DCME has offices throughout Europe and the Middle East and it is the investment banking arm of Daiwa Securities Group, a Japan-based brokerage group with some 16,000 employees globally.
Globally Daiwa Capital Markets offers investment banking services across Japan, Asia, Europe, the Middle East and the Americas and Close Brothers Corporate Finance is also a fully owned subsidiary Daiwa Capital Markets Europe.
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