Nomura Holdings is expanding its wealth management team in Singapore and Dubai after the unit turned profitable 18 months ahead of schedule, international wealth head Ravi Raju said. The Tokyo-based firm is relocating to a larger Dubai office, doubling its capacity to 60 staff, and is hiring in Singapore following last year’s Hong Kong expansion. Nomura aims to more than double assets under management to USD60bn under its five-year plan while increasing headcount by 50%. The firm is leveraging its Japan links and global markets expertise to attract high-net-worth clients, particularly in Southeast Asia. Investor sentiment toward China and Hong Kong has also improved amid a rebound in IPOs and stock markets.