BDO Unibank, Inc. (BDO) has successfully closed an agreement with Nomura Asia Investment (Singapore) Pte. Ltd. (Nomura), a wholly-owned subsidiary of Nomura Holdings, Inc. for the joint venture with PCIB Securities, Inc., a securities dealer and broker with a seat in the Philippine Stock Exchange (PSE).

Following the transaction, BDO owns 51% of the joint venture, with Nomura holding the remaining 49%. The Joint Venture is now renamed BDO Nomura Securities, Inc. and will be headed by Mr. Koichi Katakawa as President, subject to regulatory approval.

The joint venture intends to leverage on the strength of both companies to create a strong platform to serve a fast-growing market. BDO’s market leadership and wide distribution network will complement Nomura’s strength in asset management, equity research and investment banking. BDO Nomura will initially provide online trading services for local stocks to individual investors, and eventually expand its services to a broader client base.