Someone once said that intelligence without ambition is like a bird without wings. Frankly, we wouldn't be doing justice to our intellectual capital by demanding less from our people at Nomura than to strive for a globally competitive franchise.
The world post-crisis presents a particular set of characteristics, which work both for and against us. Global markets are at an unprecedented crossroads when it comes to the rising importance of emerging markets versus the traditional economic powers in Europe, the US and Japan. With $2.5 trillion of reserves in China alone, the amount of wealth flowing into emerging markets will forever transform the face of our global economy.
The pace of this globalisation gives us...