NOMURA News Release

Nomura Hires Wendy Liu as Head of China Equity Research

Hong Kong, May 17, 2012 – Nomura, the global investment bank, has hired Wendy Liu as Managing Director and Head of China Equity Research, based in Hong Kong. Wendy will be responsible for managing Nomura's China equity research product and writing its China strategy research, aligning and coordinating the firm's research views on the China market. She will jointly report to Stewart Callaghan, Head of Equity Research, Asia ex-Japan and Zhizhong Yang, Chairman and CEO, China Region.

"The strength of our China equity research is central to our client-focused research franchise in the region and the appointment of Wendy will take our China equity research offering to the next level," said Stewart Callaghan, Head of Equity Research, Asia ex-Japan.

"Wendy's experience and caliber will further strengthen our regional management team as we continue to build our equities product in Asia ex-Japan," added John Adair, Joint Head of Equities, Asia Pacific.

Wendy joins Nomura from RBS where she was a Managing Director, Head of China Research and the China Strategist. Prior to that, she was a Senior Director and Co-head of Asia Pacific Telecom Research at Merrill Lynch. She holds an MBA from Columbia University and a BS in Economics from the University of Kentucky.

Nomura now has over 20 analysts covering 220 stocks across 14 sectors in China.


For further information please contact:

Name Company Telephone
Jonathan Williams Nomura Corporate Communications, Singapore +65 6433 6336
Lillian Liu Nomura Corporate Communications, China +86 10 5866 1720


Nomura is a leading financial services group and the preeminent Asian-based investment bank with worldwide reach. Nomura provides a broad range of innovative solutions tailored to the specific requirements of individual, institutional, corporate and government clients through an international network in over 30 countries. Based in Tokyo and with regional headquarters in Hong Kong, London, and New York, Nomura employs over 27,000 staff worldwide. Nomura's unique understanding of Asia enables the company to make a difference for clients through three business divisions: retail, asset management, and wholesale (fixed income, equities, and investment banking). For further information about Nomura, please visit