Japanese banking giant Nomura is set to open an office in South Africa, known as Nomura South Africa, on 4 April 2016.

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The new branch, based in Cape Town, will boost the bank’s ability to provide local and international clients with investment banking services in the country and enable expansion across sub-Saharan Africa.

Additionally, the firm has hired Jan Newman and Ben Lowther from Newman Lowther & Associates to lead its newly-established branch office.

Newman has been named as head of Nomura South Africa and head of investment banking, South Africa, while Lowther will become co-head of investment banking in South Africa.

Nomura South Africa aims to offer a range of investment banking and risk solution services to further support its current and new clients in the region.

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Nomura head of EMEA Jonathan Lewis said: "The establishment of Nomura South Africa, led by Jan and Ben, will expand our global footprint and in-country capabilities in investment banking; and enable us to provide our clients with direct access to and insights on growth opportunities in sub-Saharan Africa."

Newman said: "We look forward to bringing an enhanced and broadened range of investment banking services to our clients in South Africa, the wider region and internationally."