MOVES-Nomura appoints pair to head new South Africa team

LONDON, March 22 (IFR) - Nomura has appointed Jan Newman and Ben Lowther, previously of Newman Lowther & Associates, to lead a new office and team in South Africa, which it said will be a platform for the Japanese investment bank to expand in the continent.

The establishment of Nomura South Africa from April 4 will boost the bank’s ability to provide local and international clients with investment banking services in the country and “provide Nomura with a platform for expansion into and across sub-Saharan Africa,” Nomura said on Tuesday.

It will be based in Cape Town.

Newman Lowther & Associates (NLA) is an independent corporate finance and M&A advisory firm in South Africa that was formed in 2005 and had an exclusive partnership with Nomura to advise on cross-border M&A transactions into and out of South Africa, its website said.

Nomura said Newman has been appointed head of Nomura South Africa and head of investment banking, South Africa.

Lowther will be co-head of investment banking in South Africa.

Nomura said it has a strong track record of M&A and advisory in South Africa, including advising and financing private equity firm Brait on its acquisition of UK fashion retailer New Look in 2015 and financial adviser to Coca-Cola Sabco on the proposed creation of Coca-Cola Beverages Africa in 2014. (Reporting by Steve Slater)