Daiwa's U.S. Gambit: A Quiet Giant Bets Big on American Growth

NEW YORK, NY – January 20, 2026 – After celebrating sixty years as a registered broker-dealer in the United States, Daiwa Capital Markets America (DCMA) is embarking on one of its most ambitious expansions to date, signaling a strategic pivot from quiet persistence to aggressive growth. The U.S. affiliate of Japanese financial giant Daiwa Securities Group Inc. used its 2025 anniversary year not just for commemoration—highlighted by ringing The Closing Bell® at the New York Stock Exchange—but as a launchpad for a multi-pronged strategy involving a new state-of-the-art headquarters, targeted product launches, and a significant hiring initiative aimed at capturing a larger slice of the competitive American market.

A Strategic Overhaul for a New Era

The most visible symbol of DCMA’s transformation is its departure from Lower Manhattan after nearly six decades. In March 2025, the firm completed its move to a new flagship headquarters at 1251 Avenue of the Americas in Midtown. The 20-year lease for 44,100 square feet represents more than a change of address; it is a fundamental investment in the firm’s future operational model and talent strategy.

The new space is engineered for a post-pandemic financial world, emphasizing collaboration, advanced technology, and a hybrid work model. Designed with a "hoteling concept," the office provides flexible workstations rather than fixed desks, encouraging dynamic interaction among its more than 300 team members. This move aligns with a broader industry trend where financial firms are leveraging modernized real estate to attract and retain top talent in a fiercely competitive market. By investing in an environment that promises an enhanced experience for employees and clients alike, DCMA is positioning itself as a forward-thinking employer prepared for the next phase of financial services.

Targeting Niches in a Crowded Market

While the U.S. investment banking market, projected to reach nearly $49 billion in 2025, remains dominated by bulge-bracket American banks, DCMA is executing a calculated strategy of targeting specific growth areas. In 2025, the firm broadened its product suite with the launch of a new Commercial Mortgage-Backed Securities (CMBS) offering and a sophisticated Delta One equities platform.

The timing for the CMBS launch is opportune. The U.S. CMBS market is experiencing a surge, with issuance volumes in 2025 hitting post-Global Financial Crisis highs and analysts forecasting private-label securitization to potentially reach $183 billion in 2026. By entering this buoyant sector with a dedicated team, DCMA aims to capitalize on the robust demand for commercial real estate debt securitization. Similarly, the revitalized Delta One equities platform, led by a newly hired Executive Director, caters to institutional clients seeking complex, risk-hedged strategies for market exposure. These platforms allow the firm to leverage its strengths without engaging in a direct, full-frontal competition with the largest market players.

This targeted expansion extends geographically. The firm has already bolstered its salesforce in the high-growth states of Florida and North Carolina, tapping into burgeoning economic hubs that are increasingly attracting financial services firms and private wealth. This methodical regional growth complements the firm's national presence, which serves over 1,000 institutional clients across its Fixed Income, Equities, and Investment Banking divisions.

Bridging Global Markets with a Sustainable Focus

Reinforcing its long-standing role as a financial bridge between the U.S. and Japan, DCMA is also deepening its global integration and commitment to sustainable finance. A key 2025 development was the integration of its New York and London fixed income teams, a move designed to accelerate the growth of its USD Fixed Income products within the European, Middle Eastern, and African (EMEA) markets.

This global mindset is most evident in its growing ESG capabilities. The firm served as a Joint Lead Manager on the World Bank’s A$1.5 billion dual-tranche tap of its Sustainable Development Bonds, a high-profile transaction that underscores its expertise in the sustainable debt market. This involvement is not a one-off; it reflects a deep institutional commitment inherited from its parent company, a signatory to the Principles for Responsible Investment (PRI). As global sustainable fund assets surpassed $3.2 trillion at the end of 2024 and investors demand more rigorous, high-impact ESG options, DCMA’s demonstrated capability in this area provides a significant competitive advantage. The firm is positioning itself to meet the needs of a new generation of investors for whom financial returns and societal impact are inextricably linked.

The Road Ahead: A War for Talent and Continued Expansion

Looking to 2026, DCMA is doubling down on its growth strategy with plans to expand its workforce by a substantial 20%. This ambitious hiring push will focus on bolstering its fixed income sales and trading capabilities and further building out its Equities products. However, this expansion comes at a time when the financial services industry is facing a significant talent shortage, with firms locked in a "talent war" for professionals skilled in areas like data analytics, fintech, and ESG.

To win this war, DCMA is banking on its modernized infrastructure, a corporate culture that emphasizes individual contribution, and a comprehensive benefits package that includes wellness initiatives and tuition reimbursement. The firm's ability to offer a more intimate, collaborative environment compared to its larger rivals may prove to be a key differentiator.

"2025 has been a year of significant achievements for Daiwa Capital Markets America, reflecting the strength of our strategy and the dedication of our people," said Keiji Machida, Chairman and CEO. "As we enter 2026, we do so with a strong foundation and a clear focus on strengthening our U.S. footprint, enhancing client offerings, and pursuing strategic investments to drive long-term growth."

The firm's forward momentum also includes the planned relocation of its San Francisco office in the first quarter of 2026 and the exploration of new business ventures and capital markets capabilities. By strategically investing in its people, products, and physical presence, Daiwa Capital Markets America is making a clear statement that after sixty years, its period of most significant growth in the U.S. may just be beginning.