The newly-appointed figure, based in Dubai, has worked in the financial services sector for more than 30 years, much of these at Standard Chartered.
Nomura’s international wealth management division is making a significant move with the appointment of Harish Hemandas, a former senior figure at Standard Chartered. Hemandas will be based in Dubai, taking on the role of head of Nomura Singapore Limited’s Dubai International Financial Centre (DIFC) branch. This transition marks an important step for both Hemandas and the firm as they seek to strengthen their presence in the Middle East.
In a memo disclosed to this news service, Hemandas’s role as the senior executive officer and head of coverage for the Middle East and Europe is highlighted, contingent upon regulatory approvals. This elevated position will bring him into direct collaboration with Anurag Mahesh, who oversees coverage for the Southeast Asia, global South Asia, and Middle East regions at Nomura.
Hemandas’s extensive background in the financial services industry spans over 30 years, with a significant chunk of that tenure at Standard Chartered. His experience in Dubai is particularly noteworthy, where he operated for more than three years in several high-profile roles. Most recently, he served as a managing director and team leader, driving Standard Chartered’s private banking initiatives across the Middle East and Africa.
With his wealth of experience, Hemandas will be tasked with scaling Nomura’s international wealth management franchise. His focus will pivot toward high-net-worth and ultra-high-net-worth individuals, family offices, external asset managers, and related entities within the Middle East and Europe. This strategic emphasis aligns perfectly with the ambitions of Nomura, particularly as it seeks to elevate its service offerings in this lucrative market.
This news service has reached out to Nomura for clarification regarding whether Hemandas’s position constitutes a newly-created role or if he is filling the shoes of Adil Khan, the former senior executive officer at Nomura’s DIFC branch, who has recently departed from the firm. Updates will be provided as they become available.
Interestingly, this appointment comes on the heels of Nomura’s recent expansion into Dubai’s financial landscape. As of July 2023, the firm established its presence in the DIFC, marking a significant stride in its international wealth management efforts. Such moves underscore Nomura’s commitment to enhancing its reach and influence in key financial markets.
Moreover, Hemandas is not stepping into a vacuum; he joins a series of strategic appointments the bank has made to bolster its market presence. Earlier in March, for instance, Ong Kin Yok was appointed as managing director and team head, specifically to focus on the market landscape in Singapore and Malaysia. Such initiatives are indicative of a broader strategy to secure and expand client relationships across diverse regions.
