Japan's Daiwa expanding fixed income and pension management in Sydney
SYDNEY, NNA - Japanese broker Daiwa Securities Co. will open an office in Sydney in June, increasing its presence in the pension management and fixed-income markets.
Demand for financial services, especially asset management, is growing steadily in Australia. The opening of a second office there is a reflection of Daiwa’s growth strategy in Asia and Oceania.
Its office in Melbourne opened in 1995 offering mainly equity brokerage and merger and acquisition services.
“The four major Australian banks are based either in Melbourne or Sydney,” said a Daiwa Securities official, who declined to be named. “We made our decision given that there are many financial institutions in Sydney.”
The company said it is also studying whether to team up with Macquarie Group Ltd. of Australia.
Daiwa Securities has been in a partnership with Australia and New Zealand Banking Group Ltd. since 2014 in the M&A business.