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Nomura Follows Saudi Retreat With Plan to Exit Bahrain, Qatar

Views of Nomura and Daiwa Securities Ahead of Earnings Announcement
Photographer: Kiyoshi Ota/Bloomberg

Nomura Holdings Inc. is closing its offices in Qatar and Bahrain as part of a push to move some of its regional and client coverage to bigger financial centers, according to people familiar with the matter.

Japan’s biggest brokerage, which also exited Saudi Arabia last month, has been shrinking its investment banking presence in the Middle East. Nomura will continue to serve clients in Saudi Arabia, Bahrain and Qatar from Dubai or locations like London, where it has a larger presence, said the people, who asked not to be identified because the information is private.