March 7, 2017 / 5:34 AM / 3 years ago

Nomura Holdings to name Morita as Nomura Securities' president - sources

TOKYO, March 7 (Reuters) - Nomura Holdings Inc will promote company veteran Toshio Morita to the role of president of its Nomura Securities subsidiary, people familiar with the matter said on Tuesday.

Morita, who has been with Nomura since 1985, will take the reins from Nomura’s Group Chief Executive Officer Koji Nagai, who will remain in charge of the holding company.

Nomura Securities is the brokerage’s core securities business, providing individual and institutional investors with, among others, investment advisory and securities underwriting services.

A Nomura spokesman declined to comment. The company is scheduled to announce annual management changes later on Tuesday.

Morita’s promotion was first reported on Tuesday by the Nikkei business daily. (Reporting by Emi Emoto and Thomas Wilson; Editing by Muralikumar Anantharaman)

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