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.
A significant leadership change is underway at Nomura, as Harish Hemandas joins the firm’s international wealth management business based in Dubai. This appointment is noteworthy not only for Hemandas’ extensive experience but also for its implications in strengthening Nomura’s position in the Middle East financial landscape.
Hemandas, a former senior figure at Standard Chartered, will head the Nomura Singapore Limited (NSL) branch at the Dubai International Financial Centre (DIFC). This transition comes as Nomura continues to expand its footprint in international wealth management, especially in regions with high potential for growth.
Pending regulatory approvals, Hemandas will take on the role of senior executive officer and head of coverage for both the Middle East and Europe. This strategic move aligns with Nomura’s commitment to enhancing its service offerings and attracting high-value clients. Hemandas will report directly to Anurag Mahesh, overseeing coverage for Southeast Asia, global South Asia, and the Middle East.
His responsibilities will include scaling Nomura’s international wealth management franchise by driving client business with a focus on high and ultra-high-net-worth individuals, family offices, external asset managers, and other influential entities in the region. This is a crucial area for growth, particularly as wealth in the Middle East continues to expand at an unprecedented rate.
Hemandas brings over three decades of experience in financial services, with a significant portion of his career spent at Standard Chartered Bank. His expertise spans private banking, treasury, and global financial markets, making him well-suited for his new role. Most recently, he served as a managing director and team leader in Dubai, where he spearheaded the bank’s private banking operations across the Middle East and Africa.
In the context of leadership transitions, it’s noteworthy that Adil Khan, the former senior executive officer of Nomura’s DIFC branch, has departed from the firm. Hemandas’s appointment reflects a continuous effort by Nomura to attract top talent to enhance their strategic operations in vital markets.
This hire follows Nomura’s recent expansion in July 2023, when the company established a presence in the DIFC to boost its international wealth management arm. The choice of Dubai as a base for their operations underscores its status as a financial hub in the region and the strategic benefits of being situated in a thriving economic environment.
The firm has been proactive in strengthening its team; earlier this year, in March, they appointed Ong Kin Yok as managing director and team head, focusing on market coverage for Singapore and Malaysia. These moves highlight Nomura’s commitment to enhancing its capabilities and aligning with market opportunities across different regions.
