Nomura has hired nine staff for its emerging market equities team since recruiting Philip Staveley, head of emerging market cash equities at Deutsche Bank, six months ago to develop the business.
The team covers Latin America, South Africa and eastern Europe and the telecoms, oil and gas, mining sectors and specialist hedge fund sales.
Last month, Nomura hired Graham Dean Hart, head of Russian trading at ING, as an eastern European specialist, and Xavier Grunauer, an oil and gas analyst at JP Morgan, was appointed to cover Russian, central European, South African and Latin American oil and gas stocks.
Nomura hired five in December, including Paul Cliff, a former head of European steels research at JP Morgan, as an emerging Europe metals and mining analyst.
Staveley's first recruit was Tamzin Hobday as a Latin American sales specialist in October. Hobday joined from WestLB Panmure where she was a European equity strategist.
The development of the emerging market cash equities side follows last year's hires for Nomura's equity derivatives business. Last year, the Japanese house hired 20 equity derivatives bankers from Merrill Lynch and a further 13 from other banks to boost its department.