Travelers is still shopping

Article Abstract:

Travelers Group Inc. is seeking for more investments from Japanese financial businesses. The company that invested $1.6 billion in the Japan-based brokerage firm Nikko Securities Co. sees considerable market opportunities in the region, according to its chairman and chief executive officer Sanford Weill. The deal with Nikko Securities, completed in late August 1998, also involves an investment-banking partnership with Travelers. Meanwhile, Merrill Lynch & Co. has established a retail brokerage network following employment of 2,000 workers from the bankrupt Yamaichi Securities Co.

Comment:

Seeks for more investments from Japanese financial businesses

Japan, Marketing procedures, Insurance, Insurance Carriers and Related Activities, Travelers Inc., Article

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Nomura plans to take fewer risks after posting big loss

Article Abstract:

Nomura Securities Company Ltd plans to change its approach to foreign operations by minimizing trading risk and fortifying its brokerage and investment banking services. Japan's largest securities company recorded a substantial loss of 237 bil yen ($2 bil) before taxes for the first half of 1998 ended Sep 30. Among the company's plans are reduction of operational costs by 20%, withdrawal from proprietary trading and the integration of global and investment banking services.

United States, Securities Dealers, Investment Banking and Securities Dealing, Strategy & planning, Planning, Foreign operations, Securities industry, Business enterprises, Nomura Securities Company Ltd.

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