Nomura has joined the ranks of global investment banks to recognise the importance of the Indonesian markets. Yesterday it said it had hired Wilianto Ie to a newly created role as head of research for Indonesia.
Ie will be responsible for building Nomura’s Indonesia-based research team and for providing overall Indonesian market strategy. He started work on September 15, is based in Jakarta and reports to Jitsoon Lim, head of equity research for Southeast Asia.
“Ie’s appointment is an important first step in building Nomura’s comprehensive equities coverage of the Indonesian market for global investors,” said Atsuyoshi Aoyagi, Nomura’s head of equities for Southeast Asia.
The new Jakarta-based research team will complement Nomura's existing macroeconomic and equity research coverage of Indonesia. "We will add a couple more analysts in Jakarta to cover the industrial and mining/resources sectors," said a spokesperson.
The Indonesia research team will be supported by regional analysts based in Singapore and Hong Kong who already provide the firm’s clients with coverage of Indonesia’s macro economy, as well as sector coverage for banking, plantations, telecoms and utilities.
Ie has over 15 years of experience in Indonesian equity research and joins Nomura from CLSA Indonesia where he was a senior analyst covering the plantation sector in the Asean region as well as the Indonesian automotive sector. Previously he was head of research at Kim Eng Securities Indonesia, and before that a senior analyst at both Indosuez WI Carr Securities Indonesia and Standard Chartered Securities Indonesia.
Nomura already has a seat on the Jakarta Stock Exchange and intends to service both domestic and international investors -- a model that it has implemented throughout the region.
The Japanese bank has been building its equities business globally and claims to have gained market share on all major exchanges.
