Daiwa bides fund services push after prime brokerage sale

Daiwa Securities’ plan to grow its alternative fund services in Asia will continue to move forward following the sale of its synthetic prime brokerage to Canada’s Bank of Nova Scotia last week for an undisclosed sum, according to the Japanese firm. The business employs 40 staff, mostly in London, with regional desks in Hong Kong and New York. About six to seven employees are based in Hong Kong, according to Dominique Blanchard, Daiwa’s global head of derivatives. Clients of the sy…